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TORONTO - The Bank of Montreal is lowering its rate for a five year fixed mortgage amid concerns about a cooling housing market.

Effective immediately the rate will drop to 2.99 per cent from the current 3.09 per cent.

The other big banks could follow suit.

Read more: http://money.ca.msn.com/investing/news/business-news/bmo-lowers-rate-for-five-year-fixed-mortgage-2

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