The other big banks moved to increase their fixed mortgage rates effective today, October 14, 2009, following RBC’s mortgage rates increase last week.

The fixed rate increases range from 0.10% – 0.35% while variable rates remained unchanged. The latest rates are now as follows:

Bank mortgage rate changes

	BMO		CIBC		Scotiabank
Fixed Rates:	To:	Change:	To:	Change:	To	Change:
6 month fixed convertible	4.65%	0.10%	4.65%	0.10%	4.65%	0.10%
6 month fixed open	6.45%	0.10%	6.70%	0.10%	6.50%	0.10%
1 year fixed open	6.80%	N/C	6.45%	0.10%
1 year fixed closed	3.70%	N/C	3.80%	0.10%
2 year fixed closed	3.95%	0.10%	3.95%	0.10%
3 year fixed closed	4.45%	0.10%	4.45%	0.10%	4.75%	0.30%
4 year fixed closed	5.29%	0.35%	5.29%	0.35%	5.30%	0.35%
5 year fixed closed	5.84%	0.35%	5.84%	0.35%	5.84%	0.35%
6 year fixed closed	5.84%	0.35%
7 year fixed closed	6.80%	0.20%	6.80%	0.20%	6.60%	0.10%
10 year fixed closed	6.95%	0.20%	6.95%	0.20%	6.95%	0.10%
18 year fixed open	8.95%	N/C

Special rate offers

	BMO		Scotiabank
Special Offers*	To:	Change:	To:	Change:
1 year (fixed/closed)			2.55% *	NC
5 year (fixed/closed)	4.54%	0.35%	4.54%	0.35%

Scotiabank special offer

* The special discounted rates are not the posted rates of Scotiabank.
Rates are subject to change without notice. Offers may be withdrawn or
extended without notice and cannot be combined with any other rate
discounts, offers, or promotions. Mortgage funds must be advanced within
120 days of the application date. Other conditions may apply.

BMO Special offer

*This special discounted rate is not the posted rate of BMO Bank of
Montreal. Rate is subject to change without notice. Offer may be
withdrawn or extended without notice. Mortgage funds must be advanced
within 90 days of the application.

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