(February 2 – 10:35 ET) – CIBC has announced several decreases in its mortgage rates. The changes are as follows:

Six month convertible 7.65 per cent, down .20%
Six month open 8.10 per cent, down .20%
One year open 8.00 per cent, down .20%
One year closed 7.20 per cent, down .20%
Two year closed 7.35 per cent, down .10%
Three year closed 7.55 per cent, no change
Four year closed 7.65 per cent, no change
Five year closed 7.75 per cent, no change
Seven year closed 8.05 per cent, no change
Ten year closed 8.40 per cent, no change

These rates are effective Feb. 3, 2001.
-IE Staff