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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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Top Savings and GIC Rates in Canada This Week

                                                             


Canadians looking to maximize their returns on safe investments have strong options this week, with both high-interest savings accounts (HISAs) and guaranteed investment certificates (GICs) offering competitive rates.

High-Interest Savings Accounts

  • KOHO Earn Interest Account continues to lead with an impressive 3.5% interest rate, offering unlimited transactions and cashback perks.
  • Other online banks and credit unions are hovering around 3.0%–3.25%, making HISAs a flexible choice for those who want liquidity while still earning meaningful returns.

Guaranteed Investment Certificates (GICs)

  • For short-term savers, MCAN Wealth is offering 3.65% on a 1-year GIC, one of the highest rates available.
  • Longer-term investors can lock in 3.95% for a 5-year GIC with MCAN Wealth, while EQ Bank provides 3.45% on a 5-year term, balancing security with steady growth.
  • Credit unions such as WFCU are also competitive, with 3.30% on a 1-year GIC.

Takeaway

For Canadians weighing their options, HISAs provide flexibility and liquidity at rates above 3%, while GICs offer guaranteed returns up to nearly 4% for longer commitments. The choice depends on whether you value access to your funds or prefer locking in for higher yields.


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