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SCOTIABANK INCREASES MORTGAGE RATES

SCOTIABANK INCREASES MORTGAGE RATES
 TORONTO, Oct. 1 /CNW/ - Scotiabank today announced increases in the interest rates charged for Scotia Mortgage conventional and N.H.A. residential mortgages. The new rates are effective immediately.
 The rates on CLOSED mortgages are changed as follows:
 . six-month increased .85 of one per cent to 7.75 per cent;
 . one-year increased 1.50 per cent to 7.75 per cent;
 . two-year increased 1.375 per cent to 8.25 per cent;
 . three-year increased one per cent to 8.75 per cent;
 . four-year increased one per cent to 9.00 per cent;
 . five-year increased three-quarters of one per cent to 9.25 per cent.
 The rates on OPEN mortgages are changed as follows:
 . six-month increased two per cent to 8.75 per cent;
 . one-year increased 1.50 per cent to 8.75 per cent.
 The three-year VARIABLE rate increased two per cent to 8.25 per cent.
 For further information: Shelley Jourard, Manager, Public Affairs (416) 866-6204
 (BNS.)
 -0- 10/01/92


CO: BANK OF NOVA SCOTIA IN: FIN SU: ECO ST: -- c0012 -- X974 10/01/92
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Publication:PR Newswire
Date:Oct 1, 1992
Words:181
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