October 05, 2005 15:00 ET

National Bank Adjusts its Mortgage Rates

MONTREAL, QUEBEC--(CCNMatthews - Oct. 5, 2005) - National Bank of Canada has adjusted its rates for residential mortgages. The new rates are effective as of October 6, 2005.

TERM                        CURRENT RATE      NEW RATE       CHANGE
                                      (%)           (%)
--------------------------------------------------------------------
FIXED-RATE OPEN TERM
6 months open                      6.900         7.000        0.100
1 year open                        7.050         7.200        0.150


FIXED-RATE CLOSED TERM
3 months closed                    5.050         5.050        0.000
6 months closed                    5.050         5.200        0.150
1 year closed                      5.050         5.050        0.000
2 years closed                     5.250         5.450        0.200
3 years closed                     5.400         5.600        0.200
4 years closed                     5.700         5.850        0.150
5 years closed                     5.800         5.950        0.150
7 years closed                     6.750         6.900        0.150
10 years closed                    7.150         7.150        0.000


VARIABLE-RATE CLOSED TERM
5 years Variable rate
 (discount included)               4.250         4.250        0.000
5 years Saver                      4.700         4.700        0.000
5 years Capped rate                4.500         4.500        0.000

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