National Bank cuts shortterm mortgage rates

MONTREAL — National Bank says it has lowered some of its shorter-term fixed residential mortgage rates.The Montreal-based bank dropped its two-year closed rate by two-tenths of a percentage point to 3.35%.Its one-year rate was lowered by four-tenths of a percentage point to 3.5%.[np-related]The bank’s six-month rate fell more than four-tenths of a percentage point to 4.45%.The changes come into effect Wednesday.The Canadian Press

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