Canadian banks reduce many of their mortgage rates by 0.1 per cent as of August 17, 2010

TORONTO - Five of Canada's major banks will reduce many of their posted mortgage rates by one-tenth of a percentage point, effective Tuesday.

The posted five-year closed mortgage rate, for instance, will fall to 5.49 per cent annually at Royal Bank (TSX:RY), Bank of Montreal (TSX:BMO), Scotiabank (TSX:BNS), CIBC (TSX:CM) and Laurentian Bank (TSX:LB).

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BMO lowers special five year fixed mortgage to 3.79 per cent, the best in the marketplace

TORONTO, ONTARIO, Aug 16, 2010 (MARKETWIRE via COMTEX) -- BMO Bank of Montreal announced today it is decreasing its residential mortgage rates, effective August 17, 2010.

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TORONTO, Aug. 16 /CNW/ - Scotiabank announced today the following changes in the Bank's posted residential mortgage interest rates, effective August 17, 2010:

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RBC Royal Bank decreases residential mortgage rates

TORONTO, Aug. 16 /CNW/ - RBC Royal Bank announced today that it is decreasing its residential mortgage rates effective August 17, 2010.

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