Mortgage rates inching up at Bank of Montreal

The Bank of Montreal is raising its fixed and variable home mortgage rates tomorrow morning.

The posted rate for a five-year fixed closed mortgage is rising 0.1 percentage points to 5.44 per cent, while the posted five-year closed variable rate will rise by the same amount to 3.1 per cent.

The increase comes in anticipation the U-S central bank is going to start tapering its economic stimulus measures. 

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