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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: May 4, 2024




HOROSCOPES IF TODAY IS YOUR BIRTHDAY

The message of your birthday chart is that the more time you spend helping friends and loved ones this year the more you will benefit in the wider material world. What you invest in their well-being the universe will invest twice as much in your own.

ARIES (March 21 - April 20):

You won’t turn away those who need a helping hand this weekend but you need to be aware that some people are not as down on their luck as they would like you to think they are. Give generously of your time but keep hold of your cash.

TAURUS (April 21 - May 21):

With the sun, Venus and Jupiter all moving through your sign there is no reason for you to be hesitant or suspicious. The universe is so much on your side at the moment that even if something does go wrong this weekend it will still somehow go right.

GEMINI (May 22 - June 21):

You are under no obligation to be sociable. You certainly don’t have to do what other people expect of you just to keep them sweet. Carve out your own space over the next 48 hours – a place where you can be at peace with your thoughts.

CANCER (June 22 - July 23):

Why are you blaming yourself for something that was clearly not your fault? No matter what may have gone wrong over the past few days there is no point dwelling on it – and you have absolutely no reason to regret it in any way.

LEO (July 24 - Aug. 23):

By all means be assertive on the work front but keep in mind that not everyone shares your desire to reach the top at any cost. Also, be aware that if in your hurry to get ahead you break the rules those rules may end up breaking you!

VIRGO (Aug. 24 - Sept. 23):

You have so much going for you now but you still cannot shake the irrational idea that something is about to go wrong in a big way. Forget what occurred in the past and think only of future successes – of which there are sure to be plenty.

LIBRA (Sept. 24 - Oct. 23):

There are forces at work that would like nothing better than to stop you reaching the lofty goals you have set yourself. That can only happen though if you allow their negativity to get to you, so blank them out of your perception completely.

SCORPIO (Oct. 24 - Nov. 22):

If a colleague acts dishonestly this weekend there is no reason why you should get involved, unless their actions affect you directly. Keep your distance and show by the choices you make that you don’t have to lie and cheat to get ahead in life.

SAGITTARIUS (Nov. 23 - Dec. 21):

It will become necessary this weekend to admit that you have bitten off more than you can chew and must now cut back on your commitments. It may be a touch embarrassing but better that than to carry on as you are and risk total collapse.

CAPRICORN (Dec. 22 - Jan. 20):

So much is going well for you now that it would be easy to believe that life will always be this wonderful. But the cosmic wheel will turn eventually, so be prepared for when it does and use these good times to store up treasure for the bad times.

AQUARIUS (Jan. 21 - Feb. 19):

Don’t worry if you have to give up something of value this weekend because you will more than make up for the loss later in the month. If something seems to be slipping from your grasp the best thing you can do is to just let it go.

PISCES (Feb. 20 - Mar. 20):

Steer clear of disputes that have nothing to do with you. If you allow yourself to get involved in other people’s quarrels it is inevitable that one side or the other will view you as the enemy. Stand well back and let them get on with it!

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