linafeng

It`s not the ``News`` any more, but I just came back to work from my one-month vacation today, love to share this with everyone!

2月11号，BMO将降低部分fixed and variable利率：

Variable rates:	To:	Change:
3 year open	3.05%	N/C
5 year closed	2.15%	-0.10%
Homeowner ReadiLine 5 year variable rate closed term	2.15%	-0.10%

Special Offers*

Introducing New Special Offers:

4 year(fixed/closed)	3.99%	NEW
7 year(fixed/closed)	5.20%	NEW
10 year(fixed/closed)	5.35%	NEW
5 year (fixed/closed)	4.09%	N/C

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银行账户信息，定存投资，个人贷款，房屋贷款。如果你想得到更多的咨询或更快的回复，可以给我来电或email:
Lina Feng 冯莉娜
Financial Services Manager
Bank of Montreal
3481 Cook Street
Tel:（250）405-2355  
lina.feng@bmo.com

mimi

5 year closed is 2.15%? really?

freedom_2008

It is 5 years closed VARIABLE rate term.  Basically it means "prime - 0.1%" for 5 years.  The prime rate is 2.25% now, thus 2.15% from.  If the prime increases to 3.5% next month, or next year, then the plan rate would be 3.4%.  

"Closed" here means that you can not get out the plan without penalty within 5 years (but you might be able to convert it to a another plan, only with the same bank and if the bank agrees).

mimi

Oh, it is Variable rate,  I did not see the Variable. I see. Thank you.