National Bank adjusts its mortgage rates

Montreal, 18 October 2002 - 

National Bank of Canada has adjusted its rates for residential mortgages. The new rates are effective as of October 21, 2002.

TERM

CURRENT RATE (%)

NEW RATE(%)

CHANGE

FIXED-RATE OPEN TERM

     

6 months open

6.100

6.150

+ 0.050

1 year open

6.100

6.150

+ 0.050

FIXED-RATE CLOSED TERM

3 month closed

5.400

5.700

+ 0.300

6 months closed

5.550

5.750

+ 0.200

1 year closed

5.300

5.300

0.000

2 years closed

5.700

5.800

+0.100

3 years closed

6.050

6.200

+ 0.150

4 years closed

6.500

6.650

+0.150

5 years closed

6.700

7.000

+ 0.300

7 years closed

7.400

7.750

+ 0.350

10 years closed

8.000

8.200

+ 0.200

VARIABLE-RATE CLOSED TERM

5 years Variable rate

4. 500

4.500

0.000

5 years Saver

5.050

5.350

+ 0.300

5 years Capped rate

4.900

4.900

0.000


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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