TORONTO, May 21 /CNW/ - Scotiabank announced today the following changes in the Bank's posted residential mortgage interest rates, effective May 22, 2010:

-  five-year closed         5.99 per cent    (decreases by 0.11 per cent)

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

    -  one-year fixed closed     2.64 per cent   (no change)
    -  five-year fixed closed    4.59 per cent   (decreases by 0.11 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 Offers may be withdrawn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.