Homebuilders group pushing for 30-year mortgages to boost construction in Canada

The group that represents residential builders in Canada wants Ottawa to offer a 30-year amortization period for insured mortgages on new homes.

The Canadian Home Builders' Association says extending the period an additional five years would help with affordability and spur more construction. 

The move would bring more first-time homebuyers into the market, in turn encouraging developers to build more homes, association CEO Kevin Lee told a news conference Thursday. 

"Canadians would love to buy homes. The problem is they can't afford to buy homes and can't access mortgages that would enable them to buy homes," Lee said.