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CMHC Makes Home Financing Easier

OTTAWA, Ontario, November 17, 2004 – Canada Mortgage and Housing Corporation (CMHC) is introducing enhancements to its mortgage loan insurance products and policies that will make it easier for Canadians to finance their homes announced the Honourable Joe Fontana, Minister of Labour and Housing.

"The Government of Canada understands that changing demographics, evolving lifestyles and market conditions affect the housing choices of Canadians," said Minister Fontana. "These enhancements are part of the government's long term strategy to help Canadians meet their housing needs, and contribute to the social economic life of Canada."

The enhancements to CMHC's mortgage loan insurance products and policies will provide financial institutions with new flexibilities to expand their product offerings to Canadians. The enhancements, effective January 14, 2005, will include:

These initiatives will result in improved housing choice, access, and affordability for generations of Canadians.

For more details on these new initiatives, contact CMHC at 1 800 668-2642.

Media Inquiries Contact:

Peter Graham, Director of Communications
Office of Minister Fontana
(819) 953-5646

Isabelle Lalbin, Media Relations
(613) 742-5344