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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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Ontario Braces for Ice Storm: Power Outages and Travel Disruptions Expected


Ontario is facing a significant ice storm this weekend, with freezing rain, snow, and ice pellets creating hazardous conditions across the province. The storm is expected to arrive in two waves, bringing prolonged freezing rain and heavy snow to many areas.

The first wave began Friday evening and will last into Saturday morning, while the second wave is set to arrive Saturday night and continue into Monday. Communities from cottage country to eastern Ontario are likely to experience ice accretion of up to 20 mm, leading to slippery roads, tree damage, and potential power outages. Northeastern Ontario could see snowfall accumulations of up to 40 cm, further complicating travel.

Residents are advised to stay home if possible, keep devices charged, and prepare for localized power outages. Emergency Management Ontario recommends postponing non-essential travel and staying informed through local weather alerts.


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