IE Staff
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(September 27 – 11:20 ET) –
Bank of Montreal today
introduced two new mortgage
products and launched a new
marketing campaign in a bid to
expand its mortgage business.
The bank will now have an
18-month open term mortgage that
lets customers lock in their rate
at the bank’s five-year fixed
rate for up to 18 years. As well,
it introduced what it calls an
Investment Option Mortgage, which
lets clients get up to 3.5% of the
value of their fixed rate mortgage
to invest in a bank RRSP.