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VAUGHAN, ONTARIO--(Marketwire - June 18, 2010) - BMO Bank of Montreal (TSX:BMO)(NYSE:BMO) invites members of the Vaughan community to celebrate the grand opening of its new branch at 1621 Rutherford Rd., on Saturday, June 19, 2010.

The branch is located in one of the fastest growing municipalities in Canada, with the population of Vaughan nearly doubling over the past fifteen years.

"Vaughan is a great place to own a home, and our knowledgeable staff look forward to providing expert financial advice to our new and existing customers in this growing area," said Colleen Kennedy, Branch Manager, BMO Bank of Montreal.

"Average GTA house prices hit a record high in May, rising about 30 per cent from the low seen during the recession," said Robert Kavcic, Economist, BMO Capital Markets. "Strong demand ahead of anticipated interest rate hikes, combined with limited supply, helped push up prices sharply early in 2010. However, a softer pricing environment, combined with still-low mortgage rates, should improve affordability later in the year."

BMO is committed to helping Canadian homeowners make sense of difficult home buying decisions and personal banking staff, including mortgage specialists, are available to discuss a variety of financing options. These include BMO's five-year low-rate fixed mortgage at 4.25 per cent. This rate continues to be the best in the market, helping Canadians become mortgage free faster.