Press Releases

National Bank adjusts its Mortgage rates

Montreal, 7 July 2004 -

National Bank of Canada has adjusted its rates for residential mortgages. The new rates are effective as of July 8, 2004.

TERM

CURRENT RATE (%)

NEW RATE
(%)

CHANGE

FIXED-RATE OPEN TERM

 

 

6 months open

6.700

6.650

-0.050

1 year open

6.800

6.750

-0.050

FIXED-RATE CLOSED TERM

 

 

 

3 month closed

4.400

4.400

0.000

6 months closed

5.200

5.200

0.000

1 year closed

4.700

4.500

-0.200

2 years closed

5.300

5.250

-0.050

3 years closed

5.950

5.900

-0.050

4 years closed

6.500

6.300

-0.200

5 years closed

6.700

6.500

-0.200

7 years closed

7.850

7.550

-0.300

10 years closed

8.250

7.950

-0.300

VARIABLE-RATE CLOSED TERM

 

 

 

5 years Variable rate (discount included)

3.500

3.500

0.000

5 years Saver

4.050

4.050

0.000

5 years Capped rate

4.150

4.150

0.000

Information: (The telephone number and e-mail address provided below are for the exclusive use of journalists and other media representatives.)

Denis Dubé
Manager, Public Relations Department
Tel.: (514) 394-8644