Laurentian Bank changes its mortgage rates

MONTREAL, May 10 /CNW Telbec/ - Laurentian Bank has changed its mortgage rates. The changes are as follows:

    
    TERM                                          RATE             VARIATION

    6 month open:               from     6.85%     to     6.85%         0.00%
    6 month close:              from     3.95%     to     3.95%         0.00%
    6 month convertible:        from     5.40%     to     5.40%         0.00%
    1 year open:                from     6.95%     to     6.95%         0.00%
    1 year close:               from     3.90%     to     3.90%         0.00%
    18 month close:             from     4.00%     to     4.00%         0.00%
    2 year:                     from     4.15%     to     4.15%         0.00%
    3 year:                     from     4.75%     to     4.75%         0.00%
    4 year:                     from     5.74%     to     5.74%         0.00%
    5 year:                     from     6.25%     to     6.10%        -0.15%
    6 year:                     from     6.65%     to     6.65%         0.00%
    7 year:                     from     7.00%     to     7.00%         0.00%
    8 year:                     from     7.10%     to     7.10%         0.00%
    9 year:                     from     7.10%     to     7.10%         0.00%
    10 year:                    from     7.15%     to     7.15%         0.00%

    Fixed Rate Special offer :
    --------------------------
    18-month (fixed/closed)     from     3.14%     to     3.14%         0.00%
    5 Years (fixed/closed)      from     4.85%     to     4.70%        -0.15%
    7 Years (fixed/closed)      from     5.64%     to     5.64%         0.00%
    

These new mortgage rates will be effective as of May 11, 2010.

For further information: Gladys Caron, Vice President, Public Affairs and Communications, Laurentian Bank of Canada, Office: [phone], extension 7511, Cellular: [phone], [email protected]