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Big Bank Earnings Wrap: What RBC and CIBC Reveal About Your Mortgage

  Royal Bank and CIBC reported record or near-record profits before the market opened Thursday, closing out a jam-packed bank earnings week that also included BMO, Scotiabank and National Bank. Beyond the headline numbers, though, the details tucked into these reports say a lot about where mortgage rates, lending standards and household credit stress are actually heading — and it's a more reassuring picture than a lot of the tariff-and-tension headlines this month might suggest. RBC: Record Profit, Credit Quality Barely Budged Royal Bank of Canada posted net income of $6.0 billion for the quarter ended July 31, up 11% from a year earlier and a record for the bank. Diluted earnings per share came in at $4.23, up 13% year-over-year, while return on equity climbed to 17.9%. The number worth watching for anyone with a mortgage isn't the profit line — it's the provision for credit losses (PCL), the money banks set aside for loans that might go bad. RBC's total PCL was $1.0 b...

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Your daily horoscope: November 18, 2023


HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Your single-minded determination to be the No. 1 player in your special sphere of interest will be admired far and wide over the coming year. There is no such word as “cannot” in the Scorpio vocabulary – you are can-do to the core.

ARIES (March 21 - April 20):

Don’t sit there wondering what might have been, get out into the world and make things happen over the next 48 hours. The only person who can make your dreams come true is the person you see in the mirror, so stop wishing and start winning.

TAURUS (April 21 - May 21):

If you allow personal feelings to cloud your judgment you could make a seriously wrong call. A sun-Mars union in the partnership area of your chart warns you won’t be given any credit for admitting you made a mistake, so don’t make it in the first place.

GEMINI (May 22 - June 21):

Your ability on the work front will be there for everyone to see this weekend and it’s more than likely that senior colleagues and people in positions of power will applaud you for a job well done. But don’t let them load more work on your shoulders.

CANCER (June 22 - July 23):

The combination of the sun and Mars in the most dynamic area of your chart means it is impossible for you to fail, so focus on what you most want to accomplish and then go for it with every ounce of physical and mental energy you possess.

LEO (July 24 - Aug. 23):

The more others talk tough this weekend the more you will realize they are coming at you from a position of weakness rather than strength. Those who say the least are the ones you need to look out for, while the braggarts can be safely ignored.

VIRGO (Aug. 24 - Sept. 23):

Those who told you that your plans to move up in the world were doomed to failure will look rather silly over the next 48 hours as those same plans bear fruit of the sweetest kind. Go on, have fun and let them see your considerable success.

LIBRA (Sept. 24 - Oct. 23):

The bigger the aims you have in life the more sacrifices you have to make along the way and that is never more true than now as you reach for the stars. Don’t put too much emphasis on making money though – it’s your wider reputation that matters.

SCORPIO (Oct. 24 - Nov. 22):

Today’s sun-Mars union in your sign will bring out the best in you, which in turn will encourage others to give of their best as well. You have never been the sort to lower your standards and you are certainly not about to start now!

SAGITTARIUS (Nov. 23 - Dec. 21):

Sit down with someone you love this weekend and talk through why your relationship has not been at its best level of late. Most likely the differences between you are of such a minor nature that it’s silly to have got so worked up about them.

CAPRICORN (Dec. 22 - Jan. 20):

You need to open up and let family and friends know what you are thinking. Then you need to invite them to be as honest with you as you have been with them. With all your secrets on the table you can start being a team again.

AQUARIUS (Jan. 21 - Feb. 19):

Make use of some amazingly good cosmic activity in the career area of your chart to show people in positions of authority that you are every inch their equal. They may feel threatened a bit by your abilities but they will respect you much, much more.

PISCES (Feb. 20 - Mar. 20):

You know what needs to be done and you know you have what it takes to do it, so there can be no more excuses – make your move this very minute. The phrase “move fast and break things” seems particularly suitable for you this weekend.

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