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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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Carney Unveils Build Canada Homes, Targets Six Cities for First Wave of Affordable Housing

Prime Minister Mark Carney is set to launch Build Canada Homes (BCH), a new federal agency designed to accelerate the construction of affordable housing across the country. The initiative will begin with developments on public lands in six cities: Dartmouth, N.S., Longueuil, Que., Ottawa, Toronto, Winnipeg, and Edmonton.

BCH will act as both developer and financier, consolidating existing federal housing programs and providing substantial funding to spur rapid construction. The agency plans to offer $25 billion in debt financing and $1 billion in equity financing, with a strong focus on prefabricated and modular building methods to cut costs and timelines.

The move comes amid warnings from the Canada Mortgage and Housing Corporation that current housing starts fall far short of what’s needed to restore affordability. Carney has framed the initiative as a bold return to large-scale federal involvement in homebuilding, aiming to deliver nearly 500,000 new homes annually over the next decade.


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