TORONTO, May 23 /CNW/ - CIBC (CM: TSX; NYSE) today announced the
following changes in mortgage rates:Six-month convertible          6.85 per cent, unchanged

    Six-month open                 8.90 per cent, unchanged

    One-year open                  8.99 per cent, down .21 per cent

    One-year closed                6.15 per cent, down .80 per cent

    Two-year closed                6.15 per cent, down .85 per cent

    Three-year closed              6.15 per cent, down .85 per cent

    Four-year closed               6.59 per cent, down .26 per cent

    Five-year closed               6.65 per cent, down .34 per cent

    Seven-year closed              7.35 per cent, unchanged

    10-year closed                 7.45 per cent, down .30 per centThese rates are effective May 24, 2008.