National Bank adjusts its mortgage rates

Montreal, 8 August 2002 - 

National Bank of Canada has adjusted its rates for residential mortgages. The new rates are effective as of August 9, 2002.

TERM

CURRENT RATE (%)

NEW RATE(%)

CHANGE

6 months open

5.950

5.950

0.000

1 year open

6.150

6.150

0.000

3 months Saver

4.900

4.900

0.000

3 months closed

5.250

5.250

0.000

6 months closed

5.550

5.550

0.000

1 year closed

5.350

5.350

0.000

2 years closed

6.100

5.850

-0.250

3 years closed

6.400

6.150

-0.250

4 years closed

6.850

6.600

-0.250

5 years closed

7.050

6.800

-0.250

7 years closed

7.750

7.500

-0.250

10 years closed

8.250

8.000

-0.250



-30-

Information:





Denis Dubé
Director of Public Relations
National Bank of Canada
Tel.: (514) 394-8644
E-mail: denis.dube@bnc.ca

* the following telephone number and e-mail address are intended solely for the use of journalists and other media representatives