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TORONTO, ONTARIO--(Marketwire - June 24, 2010) - BMO Bank of Montreal (TSX:BMO)(NYSE:BMO) announced today it is decreasing its residential mortgage rates, effective June 25, 2010.

"The opportunity is still there for prospective homebuyers trying to purchase a home before the start of the school year," said Jane Yuen, Senior Manager of Mortgages, BMO Bank of Montreal. "Rates remain low and buyers may not face the same level of competition when looking to purchase a home as they did in the early Spring."

The new rates are:

Fixed Rates:	To:		Change:
6 month fixed convertible	4.85%		-0.10%
6 month fixed open	6.45%		N/C
1 year fixed open	6.45%		N/C
1 year fixed closed	3.50%		N/C
2 year fixed closed	3.95%		-0.10%
3 year fixed closed	4.50%		-0.10%
4 year fixed closed	5.54%		-0.10%
5 year low rate fixed closed	5.89%		-0.10%
5 year fixed closed	5.89%		-0.10%
6 year fixed closed	6.20%		-0.10%
7 year fixed closed	6.85%		-0.10%
10 year fixed closed	7.00%		-0.10%
18 year fixed open	8.95%		N/C

Special Offers*
	To:		Change:
4 year fixed closed	4.39%		-0.10%
5 year low rate fixed closed	4.15%		-0.10%
5 year fixed closed	4.49%		-0.10%
7 year fixed closed	5.30%		-0.10%
10 year fixed closed	5.45%		-0.10%

The interest rate for a fixed rate mortgage is calculated half-yearly not in advance.

*These special discounted rates are not the posted rates of BMO Bank of Montreal. Rates are subject to change without notice. Offer may be withdrawn or extended without notice. Mortgage funds must be advanced within 90 days of the application.

Publication Contributing Sources

• Market Wire