National Bank adjusts its Mortage rates

Montreal, 6 November 2002 - 

National Bank of Canada has adjusted its rates for residential mortgages. The new rates are effective as of November, 7 2002.

TERM

CURRENT RATE (%)

NEW RATE

(%)

CHANGE

FIXED-RATE OPEN TERM

     

6 months open

6.150

5.950

-0.200

1 year open

6.150

5.950

-0.200

FIXED-RATE CLOSED TERM

3 month closed

5.650

5.450

-0.200

6 months closed

5.750

5.550

-0.200

1 year closed

5.300

5.100

-0.200

2 years closed

5.800

5.600

-0.200

3 years closed

6.200

6.000

-0.200

4 years closed

6.650

6.450

-0.200

5 years closed

7.000

6.800

-0.200

7 years closed

7.750

7.550

-0.200

10 years closed

8.200

8.000

-0.200

VARIABLE-RATE CLOSED TERM

5 years Variable rate

4.500

4.500

0.000

5 years Saver

5.300

5.100

-0.200

5 years Capped rate

4.900

4.900

0.000





-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