Press Releases

National Bank adjusts its Mortgage rates

Montreal, 23 January 2004 -

National Bank of Canada has adjusted its rates for residential mortgages. The new rates are effective as of January 26, 2004.

TERM

CURRENT RATE (%)

NEW RATE(%)

CHANGE

FIXED-RATE OPEN TERM

 

6 months open

6.600

6.600

0.000

1 year open

6.550

6.550

0.000

FIXED-RATE CLOSED TERM

 

 

 

3 month closed

5.050

4.950

-0.100

6 months closed

5.300

5.300

0.000

1 year closed

4.500

4.400

-0.100

2 years closed

5.050

4.800

-0.250

3 years closed

5.650

5.500

-0.150

4 years closed

6.000

5.750

-0.250

5 years closed

6.150

6.050

-0.100

7 years closed

7.200

7.000

-0.200

10 years closed

7.750

7.600

-0.150

VARIABLE-RATE CLOSED TERM

 

 

 

5 years Variable rate (discount included)

4.000

4.000

0.000

5 years Saver

4.700

4.600

-0.100

5 years Capped rate

4.650

4.650

0.000

Information :

Denis Dubé
Manager
Public Relations Department
National Bank of Canada
514 394-8644