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COP APPROACHES me while mowing DESERTED HOME and tells me THISBank of Montreal (pro.mortgagebrokerauckland.org) on Tuesday warned it would need to continue to set aside money for loans that are unlikely to be repaid. The interest rate on a BMO Line of Credit is approximately 7%. However, this rate is variable and can change based on factors such as your credit score. Fitch Ratings has affirmed Bank of Montreal's (BMO) Long-Term Issuer Default Rating (IDR) and Short-Term IDR at 'AA-' and 'F1+', respectively.