Bank of Montreal Mortgage Rates

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Alberta Rates
PURCHASE
Fixed Rates
1 Year
3.59%
2 Year
3.24%
3 Year
2.92%
4 Year
3.14%
5 Year
2.87%
6 Year
5.44%
7 Year
5.80%
10 Year
4.48%
Variable Rates
5 Year
3.30%
REFINANCE
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.64%
4 Year
3.49%
5 Year
3.74%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.45%
RENEWAL
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.39%
4 Year
3.49%
5 Year
3.49%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.50%
British Columbia Rates
PURCHASE
Fixed Rates
1 Year
3.59%
2 Year
3.24%
3 Year
2.92%
4 Year
3.14%
5 Year
2.87%
6 Year
5.44%
7 Year
5.80%
10 Year
4.48%
Variable Rates
5 Year
3.30%
REFINANCE
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.64%
4 Year
3.49%
5 Year
3.74%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.45%
RENEWAL
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.39%
4 Year
3.49%
5 Year
3.49%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.50%
New Brunswick Rates
PURCHASE
Fixed Rates
1 Year
3.59%
2 Year
3.24%
3 Year
2.92%
4 Year
3.14%
5 Year
2.87%
6 Year
5.44%
7 Year
5.80%
10 Year
4.48%
Variable Rates
5 Year
3.30%
REFINANCE
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.64%
4 Year
3.49%
5 Year
3.74%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.45%
RENEWAL
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.39%
4 Year
3.49%
5 Year
3.49%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.50%
Newfoundland and Labrador Rates
PURCHASE
Fixed Rates
1 Year
3.59%
2 Year
3.24%
3 Year
2.92%
4 Year
3.14%
5 Year
2.87%
6 Year
5.44%
7 Year
5.80%
10 Year
4.48%
Variable Rates
5 Year
3.30%
REFINANCE
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.64%
4 Year
3.49%
5 Year
3.74%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.45%
RENEWAL
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.39%
4 Year
3.49%
5 Year
3.49%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.50%
Nova Scotia Rates
PURCHASE
Fixed Rates
1 Year
3.59%
2 Year
3.24%
3 Year
2.92%
4 Year
3.14%
5 Year
2.87%
6 Year
5.44%
7 Year
5.80%
10 Year
4.48%
Variable Rates
5 Year
3.30%
REFINANCE
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.64%
4 Year
3.49%
5 Year
3.74%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.45%
RENEWAL
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.39%
4 Year
3.49%
5 Year
3.49%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.50%
Ontario Rates
PURCHASE
Fixed Rates
1 Year
3.59%
2 Year
3.24%
3 Year
2.92%
4 Year
3.14%
5 Year
2.87%
6 Year
5.44%
7 Year
5.80%
10 Year
4.48%
Variable Rates
5 Year
3.30%
REFINANCE
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.64%
4 Year
3.49%
5 Year
3.74%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.45%
RENEWAL
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.39%
4 Year
3.49%
5 Year
3.49%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.50%
Prince Edward Island Rates
PURCHASE
Fixed Rates
1 Year
3.59%
2 Year
3.24%
3 Year
2.92%
4 Year
3.14%
5 Year
2.87%
6 Year
5.44%
7 Year
5.80%
10 Year
4.48%
Variable Rates
5 Year
3.30%
REFINANCE
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.64%
4 Year
3.49%
5 Year
3.74%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.45%
RENEWAL
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.39%
4 Year
3.49%
5 Year
3.49%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.50%
Saskatchewan Rates
PURCHASE
Fixed Rates
1 Year
3.59%
2 Year
3.24%
3 Year
2.92%
4 Year
3.14%
5 Year
2.87%
6 Year
5.44%
7 Year
5.80%
10 Year
4.48%
Variable Rates
5 Year
3.30%
REFINANCE
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.64%
4 Year
3.49%
5 Year
3.74%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.45%
RENEWAL
Fixed Rates
1 Year
3.39%
2 Year
3.39%
3 Year
3.39%
4 Year
3.49%
5 Year
3.49%
6 Year
3.84%
7 Year
3.89%
10 Year
4.49%
Variable Rates
5 Year
3.50%

About Bank of Montreal Rates

A financial services company & multinational investment banking institution, the Bank of Montreal (BMO Financial Group) is an excellent lender that can exceed home buyers' expectations for a mortgage loan. Bank of Montreal mortgage rates are established once a buyer's situation and mortgage type are ascertained (a new mortgage for first time home buyers, mortgage home equity loans, mortgage renewing, mortgage refinancing or even a second mortgage). Bank of Montreal mortgage rates depend on specific factors besides the mortgage type (fixed, variable, adjustable, conventional, hybrid, convertible, etc.) such as the length of time (in months or years) that the mortgage loan will extend, if the mortgage interest rate will be set to keep pace with the prime rate or set by the lender rate, the level of risk the borrower imposes, if the government stress test comes into play, the payment frequency monthly, and many more. All these bits of information are how a mortgage is figured out and the result is the mortgage loan offered to buyers by the lender through the prequalifying or preapproval process. An easier way to see how mortgages function is to see how a shorter amortization period lowers the interest rate, so in other words, if you want to take a 10-30 year mortgage (open or closed), the interest rate will be higher.
The Bank of Montreal mortgage rates are competitive to other major banks and credit unions, so taking the time to investigate this and other financial institutions are offering is always a savvy move for your financial well-being. Some banks will offer certain enticing offers such as locking in the promised interest rate for a certain length of time (like 130 days so you have time to close on the home) and 'cash back' offers. Many 'deals' may look attractive at first, but you will want to know about closed mortgages, open mortgages, mortgages that perform with flexibility so there are no penalty surprises down the road (when you try to refinance or renew your mortgage) and so on. Gain the advantage by first speaking to a mortgage advisor or specialist, the mortgage team is a helpful resource in understanding where you stand against a mortgage loan that will be 'comfortably affordable'. One often-made mistake of first time home buyers is making an offer on a home before even being preapproved by their lender... having your lender preapprove you will not only provide you with a solid number as to how much you can borrow, it also shows the seller that you already have a lender backing you to purchase that specific home.

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