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Big Bank Earnings Are In: What They Reveal About Your Mortgage Stress

  August 26, 2026 Canada's biggest banks are in the middle of reporting Q3 2026 results, and so far the headline numbers look strong. BMO and Scotiabank both beat analyst estimates this week, and National Bank of Canada reported this morning. RBC, TD, and CIBC follow Thursday, closing out the sector's earnings season. But the number that actually matters to most Canadians isn't profit — it's what the banks are setting aside for loans that might go bad, and what they're saying about who's struggling to keep up. That's where the picture gets more interesting than the headlines suggest. The headline numbers BMO kicked off the week with adjusted profit up 22% year-over-year and return on equity climbing to 14%, with the bank reiterating its target of 15% ROE by the end of fiscal 2027. Scotiabank posted what CEO Scott Thomson called a record quarter: net income of $3 billion, up 21% year-over-year, with adjusted ROE hitting 14.2% — clearing the bank's own med...
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Elon Musk's Mission at DOGE: White House Confirms Extended Role

The White House has confirmed that Elon Musk will remain in his role as a special government employee until he completes his ambitious mission with the Department of Government Efficiency (DOGE). Tasked by President Donald Trump, Musk's objective is to slash government spending and streamline the federal workforce.

Despite recent media speculation about his potential departure, White House Press Secretary Karoline Leavitt clarified that Musk's tenure would continue until his work at DOGE is finished. Musk has already made significant strides, with DOGE reporting an estimated $140 billion in taxpayer savings through workforce reductions, asset sales, and contract cancellations. However, this figure is still far from Musk's ultimate goal of cutting $1 trillion in federal spending.

Musk's efforts have not been without controversy. His approach to mass layoffs and government restructuring has sparked protests, lawsuits, and public backlash. Nevertheless, the billionaire remains confident in achieving his objectives, stating in a recent interview that he expects to accomplish most of his goals within his 130-day mandate.

As Musk's work progresses, the nation watches closely, with both supporters and critics weighing in on the impact of his reforms. Whether he will extend his role beyond the current mandate remains to be seen, but for now, Musk is firmly committed to completing his mission at DOGE.

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