It’s going to be tougher for the self employed, new immigrants and higher-risk borrowers to get a mortgage as concerns continue to mount over the state of Canada’s housing market.
CIBC’s wholesale mortgage arm, FirstLine, quietly announced Tuesday that it will no longer accept new applications from “stated income” homebuyers who can’t prove they have the annual net income to qualify for home loans. more...
Imperial Oil Ltd. is going ahead with a $2-billion expansion to its Cold Lake oilsands operation in northeastern Alberta, part of a plan to double overall production by the end of the decade. more...
Despite concerns over costs, inflation and crude price volatility, oil sands investment will rise to an all-time high of $18.5-billion by 2013, beating the previous peak of $18.1 billion in 2008, according to AltaCorp Capital research. more...
Financial institutions appear to be cracking down on rules for borrowers with self-declared income, a move that comes as Finance Minister Jim Flaherty says he's concerned about a lack of standards in the sector. more...
The December result capped off the second-best year on record under the current Toronto Real Estate Board (TREB) boundaries. Total sales for 2011 amounted to 89,347 – up four per cent in comparison to 2010. more...
With Christmas less than two weeks away, the toy industry has no runaway hit — leaving many toy shoppers bored and complicating how stores sell holiday inventory. more...
NEW YORK (Reuters) - Stocks surged on Wednesday after major central banks agreed to make cheaper dollar loans for struggling European banks to prevent the euro-zone debt woes from turning into a full-blown credit crisis. more...
OTTAWA - On the surface, Canada is riding high with a growth rate that is the envy of the western world — but analysts say this may be a case of statistics obscuring the truth. more...