TORONTO, Jan. 16, 2012 /CNW/ - CIBC (TSX: CM); (NYSE: CM) today announced the following special mortgage rate offers, effective January 17^th, 2012:

            4-year Fixed-Rate Mortgage  2.99 per cent
            7-year Fixed Rate Mortgage  3.99 per cent

These offers are in addition to the competitive mortgage offers across CIBC's full mortgage product lineup.

A CIBC poll released December 28^th 2011 revealed that Canadians have made paying down debt their number one financial priority entering the New Year. These lower fixed mortgage rates will help Canadians pay down their mortgage faster as part of their overall financial plan.

"We know Canadians are focused on effective debt management as part of their overall financial plans, and these special offers on CIBC fixed rate mortgages will help new homebuyers and existing mortgage holders reduce interest costs and pay down their mortgage sooner," commented Colette Delaney, Senior Vice-President, Mortgage, Lending, Insurance, and Deposit Products, CIBC. "Getting the right advice about which mortgage is right for you is an important first step towards reaching your financial goals."

CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, and has offices in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.