TORONTO, Oct. 13 /CNW/ - Scotiabank announced today the following changes in the Bank's posted residential mortgage interest rates, effective October 14, 2009:

- six-month flexible
       closed              4.65 per cent         (increases by 0.10 per cent)
    - six-month open       6.50 per cent         (increases by 0.10 per cent)
    - three-year closed    4.75 per cent         (increases by 0.30 per cent)
    - four-year closed     5.30 per cent         (increases by 0.35 per cent)
    - five-year closed     5.84 per cent         (increases by 0.35 per cent)
    - seven-year closed    6.60 per cent         (increases by 0.10 per cent)
    - 10-year closed       6.95 per cent         (increases by 0.10 per cent)

Scotiabank offers the following special discounted rates(*) on residential mortgage:

-  one-year fixed closed 2.55 per cent (no change)
    -  five-year fixed closed 4.54 per cent (increases by 0.35 per cent)

    * The special discounted rates are not the posted rates of Scotiabank.
    Rates are subject to change without notice. Offers may be withdrawn or
    extended without notice and cannot be combined with any other rate
    discounts, offers, or promotions. Mortgage funds must be advanced within
    120 days of the application date. Other conditions may apply.