Scheer pledges to make mortgages longer, remove stress test for renewals

Conservative Leader Andrew Scheer is laying out a plan this morning he says will make it cheaper for Canadians to buy a home.

Scheer says he’d return to allowing people to take out 30 year mortgages to help lower monthly payments.

He says a Conservative government would also ease what’s known as the stress test on mortgages, and remove the test altogether from mortgage renewals.

Scheer also says he’d make surplus federal real estate available for development to increase housing supply.

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He is also pledging to launch an inquiry into money laundering in the real estate sector.

Scheer is campaigning today in the Toronto-area suburb of Vaughan and then moves on to St. Catharines, Ont.