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Tightening Credit could STALL Real Estate Rebound: Scotia, BMOCHICAGO, Sept. 18, /CNW/ - BMO today announced that it is decreasing its US$ prime lending rate from percent to percent. BMO mortgage rates tend to be competitive with those at other Big Six banks. BMO's prime rate is %. The current Bank of Montreal prime rate is %. This is the same prime rate that's posted by most major financial institutions in Canada.