Effective July 14, 2003, Canada Mortgage and Housing Corporation (“CMHC”) has again made home ownership more affordable for people by reducing its premiums on mortgage insurance by 15%.  Users of CMHC’s insurance products (including home buyers or those refinancing their homes with a mortgage in excess of 75% of the appraised value of the home) will benefit significantly.  For example, on a mortgage of $100,000.00, the announced reduction in premiums totals $500.00 based on a 5% down payment.