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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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Tiny Homes for the Homeless: A Controversial Solution in Toronto

 

The City of Toronto has requested the removal of tiny shelters for homeless individuals from St. James Park. These shelters, built by the non-profit organization Tiny Tiny Homes, were designed to provide temporary housing for those experiencing homelessness. The city cited safety concerns and interference with public use of the park as reasons for the removal.

Ryan Donais, the founder of Tiny Tiny Homes, started building these shelters to address the growing number of homeless encampments in Ontario. Each tiny home is equipped with a bed, a small kitchen, a solar panel for lights and a fan, and a diesel-fueled heating system. Despite the city's request, Donais and his supporters are advocating for alternative locations for the shelters and have started a petition to garner public support.

The city has acknowledged the good intentions behind the initiative but maintains that the shelters pose safety risks and interfere with city staff's outreach work. As the debate continues, the future of these tiny homes remains uncertain.


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