National Bank of Canada
TSX : NA

National Bank of Canada

March 09, 2012 15:43 ET

National Bank Adjusts its Mortgage Rates

MONTREAL, QUEBEC--(Marketwire - March 9, 2012) - National Bank (TSX:NA) has adjusted its rates for residential mortgages. The new rates are effective as of Monday, March 12, 2012.

TERM CURRENT RATE (%) NEW RATE (%) CHANGE
FIXED-RATE OPEN TERM
6 months open 6.700 6.700 0.000
1 year open 6.300 6.300 0.000
FIXED-RATE CLOSED TERM
6 months closed 4.450 4.450 0.000
1 year closed 3.500 3.500 0.000
2 years closed 3.550 3.550 0.000
3 years closed 3.950 3.950 0.000
4 years closed 4.640 4.640 0.000
5 years closed 5.240 5.240 0.000
7 years closed 6.350 6.350 0.000
10 years closed 6.750 6.750 0.000
SPECIAL OFFER
Promotional rate 4 years closed** 3.390 2.990 -0.400
Promotional rate 5 years closed* 4.040 4.040 0.000
Promotional rate 7 years closed** 3.990 3.990 0.000
VARIABLE-RATE CLOSED TERM
5 years Variable rate 3.100 3.100 0.000
5 years Capped rate 3.250 3.250 0.000
Capped rate 5.240 5.240 0.000
* Limited time offer. Rates subject to change. A rate can be guaranteed for up to 90 days following receipt of the application.
** Limited time offer. Rates subject to change. A rate can be guaranteed for up to 60 days following receipt of the application.

About National Bank of Canada

National Bank of Canada is an integrated group that provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. As at January 31, 2012, National Bank has over CDN$175 billion in assets in accordance with IFRS and, together with its subsidiaries, employs 19,785 people. The Bank's securities are listed on the Toronto Stock Exchange (TSX:NA). For more information, visit the Bank's website at www.nbc.ca. To access National Bank of Canada's financial literacy portal, visit www.clearfacts.ca.

The telephone number provided below is for the exclusive use of journalists and other media representatives.

Contact Information

  • Joan Beauchamp
    Senior Advisor - Public Affairs
    National Bank
    514-394-6500