TORONTO, Nov. 19 /CNW/ - Scotiabank announced today the following changes in the Bank's posted residential mortgage interest rates, effective November 20, 2009:

- one-year open       6.55 per cent   (decreases by 0.20 per cent)
    - one-year closed     4.35 per cent   (decreases by 0.20 per cent)
    - two-year closed     3.95 per cent   (decreases by 0.40 per cent)
    - three-year closed   4.50 per cent   (decreases by 0.25 per cent)
    - four-year closed    5.19 per cent   (decreases by 0.11 per cent)
    - five-year closed    5.59 per cent   (decreases by 0.25 per cent)

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

-   one-year fixed closed 2.35 per cent (decreases by 0.20 per cent)
    -   five-year fixed closed 4.29 per cent (decreases by 0.25 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 Offers may be withdrawn or extended without notice and cannot be combined with any other rate discounts, offers, or promotions.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.