Press Releases

National Bank adjusts its Mortgage rates

Montreal, 7 October 2004 -

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

TERM

CURRENT RATE
(%)

NEW RATE
(%)

CHANGE

FIXED-RATE OPEN TERM

 

 

 

6 months open

6.650

6.800

0.150

1 year open

6.950

7.100

0.150

FIXED-RATE CLOSED TERM

 

 

 

3 month closed

4.600

4.700

0.100

6 months closed

5.300

5.300

0.000

1 year closed

4.800

4.900

0.100

2 years closed

5.300

5.400

0.100

3 years closed

5.750

5.850

0.100

4 years closed

6.150

6.300

0.150

5 years closed

6.300

6.500

0.200

7 years closed

7.350

7.500

0.150

10 years closed

7.950

8.100

0.150

VARIABLE-RATE CLOSED TERM

 

 

 

5 years Variable rate (discount included)

3.750

3.750

0.000

5 years Saver

4.250

4.350

0.100

5 years Capped rate

4.000

4.000

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