TORONTO, Jan. 20 /CNW/ - Scotiabank announced today the following changes
in residential mortgage interest rates, effective January 21, 2009:-  six-month flexible closed  5.20 per cent  (decreases by 0.70 per cent)
    -  six-month open             7.05 per cent  (decreases by 0.70 per cent)
    -  one-year open              7.75 per cent  (decreases by 0.50 per cent)
    -  one-year closed            5.50 per cent  (decreases by 0.50 per cent)
    -  two-year closed            5.80 per cent  (decreases by 0.50 per cent)
    -  three-year closed          5.75 per cent  (decreases by 0.50 per cent)
    -  four-year closed           6.05 per cent  (decreases by 0.40 per cent)
    -  five-year closed           6.45 per cent  (decreases by 0.30 per cent)
    -  seven-year closed          7.00 per cent  (decreases by 0.20 per cent)