National Bank adjusts its mortgage rates

Montreal, 24 October 2006 - 

National Bank of Canada has adjusted its rates for residential mortgages. The new rates are effective as of October 25, 2006.

TERM

CURRENT RATE
(%)

NEW RATE
(%)

CHANGE

FIXED-RATE OPEN TERM

 

 

 

6 months open

8.200

8.200

0.000

1 year open

8.550

8.550

0.000

FIXED-RATE CLOSED TERM

 

 

 

3 month closed

6.350

6.350

0.000

6 months closed

6.400

6.400

0.000

1 year closed

6.400

6.400

0.000

2 years closed

6.450

6.500

0.050

3 years closed

6.500

6.650

0.150

4 years closed

6.500

6.700

0.200

5 years closed

6.600

6.800

0.200

7 years closed

7.150

7.150

0.000

10 years closed

7.400

7.400

0.000

VARIABLE-RATE CLOSED TERM

 

 

 

5 years Variable rate (discount included)

5.750

5.750

0.000

5 years Saver

6.000

6.000

0.000

5 years Capped rate

6.000

6.000

0.000

Information (The telephone number provided below is for the exclusive use of journalists and other media representatives.):

Denis Dubé
Senior Director – Public Relations 
National Bank of Canada
Tel.: (514) 394-8644