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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: March 1

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

You need to get serious about your long-term goals and you need to start taking those small but important steps that will move you closer to them. You know what needs to be done, so ignore what the doubters might say and follow your star.

ARIES (March 21 - April 20):

You will need to act quickly and ruthlessly if your interests are put at risk over the next 48 hours. The tougher the challenges you face the braver the decisions you will have to take, so be ready to go into battle and bruise a few egos.

TAURUS (April 21 - May 21):

There are so many possibilities open to you now that you could find it hard to choose between them all. Take time out of your busy schedule to look at the options and then make a final decision about which of them to devote yourself to.

GEMINI (May 22 - June 21):

With so much cosmic activity taking place in the career area of your chart you may be contemplating a change of workplace or even a change of profession. That’s fine but don’t make any hasty decisions – take your time and get it right.

CANCER (June 22 - July 23):

Even if you are the type of crab who is content to stay within boundaries that make you feel safe you will feel the urge to get out into the world and explore this weekend. There is so much out there waiting to be discovered.

LEO (July 24 - Aug. 23):

Your sixth sense tells you that something big is about to happen but the rational part of your mind is having a hard time working out what that might be. But does it matter? Why not just sit back and allow yourself to be surprised by events.

VIRGO (Aug. 24 - Sept. 23):

Relationships of all kinds are under excellent stars now, so hook up with friends and family members and do some fun things this weekend. Forget about work and responsibilities for a while and just enjoy being with people you love and respect.

LIBRA (Sept. 24 - Oct. 23):

Don’t allow yourself to be limited by what others have come to expect of you. Do something this weekend that reminds them you are in charge of your fate and no one else. No doubt you will shock a few people but that’s a good thing.

SCORPIO (Oct. 24 - Nov. 22):

Only do what feels right to you this weekend. Some people may complain that you are acting irresponsibly, and maybe you are, but what of it? Cosmic activity in the most vibrant area of your chart means you can get away with just about anything.

SAGITTARIUS (Nov. 23 - Dec. 21):

The more someone tries to involve you in their personal affairs this weekend the more you must resist. The planets warn there is no upside to becoming a part of their drama and plenty of potential downsides, so make your excuses and move well clear.


CAPRICORN (Dec. 22 - Jan. 20):

Anyone who expects you to abandon a troublesome project is going to be disappointed. One of the great things about your birth sign is that once you have committed to something it becomes a matter of personal honor to see it through to the end.

AQUARIUS (Jan. 21 - Feb. 19):

You need to be aware that there are a number of options available to you now and not just the one course of action that others are saying you should take. You have never been afraid to head off in a new direction, so get moving now.

PISCES (Feb. 20 - Mar. 20):

Mercury in your sign makes it easy for you to get your thoughts in order and take decisions that are based on common sense. Ignore those who insist you should be following this path or that and go only where your big brain directs you.


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