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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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Southern Ontario Faces Another Winter Wallop as Storm Intensifies

 

Southern Ontario is bracing for yet another round of heavy snow this weekend, piling onto the already significant accumulations from recent squalls. Forecasters warn that a Colorado low sweeping into the province will deliver 10 to 15 centimetres of fresh snow to regions hardest hit by lake-effect bands earlier this week.

Communities along Lake Huron and Georgian Bay—including Goderich, Kincardine, Owen Sound, Collingwood, Barrie, and Parry Sound—are expected to bear the brunt of the storm. These areas, already struggling with whiteout conditions and power outages, could see travel grind to a halt as visibility drops and winds gust between 40 and 60 km/h.

The system will begin in southwestern Ontario near Windsor on Saturday evening, spreading into the Greater Toronto Area overnight and reaching Ottawa by early Sunday. While the GTA may escape the heaviest totals, forecasters caution that localized bursts of snow and blowing winds could still make commuting treacherous.

Environment Canada has issued multiple snow squall warnings and special weather statements, urging residents to prepare for hazardous conditions. Drivers are advised to avoid unnecessary travel, as roads could quickly become impassable. Hydro crews, who have already been working around the clock to restore service from Thursday’s storm, may face renewed challenges as fresh snow and strong winds strain infrastructure.

This latest blast underscores the severity of Ontario’s early winter, with some regions forecast to receive up to 50 cm of snow in total by the end of the weekend. Residents are being urged to stock up on essentials, check on vulnerable neighbours, and ensure winter safety measures—such as snow tires and emergency kits—are in place.


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