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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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What’s Happening Across Ontario

Heavy rainfall mixed with melting snow could cause flooding this weekend, warns Environment Canada.


Summary

Environment Canada is calling for significant rainfall across many regions of Ontario, with totals generally in the 15–40 mm range depending on location. Several areas also face flood risks due to melting snow and frozen ground that can’t absorb water. 

Rainfall Amounts

  • 15–40 mm expected from Friday evening to Saturday evening in regions including:

    • Newmarket–Georgina–Northern York Region
    • Barrie–Orillia–Midland
    • Owen Sound–Blue Mountains
    • Perth County
    • Sault Ste. Marie, Elliot Lake, Temiskaming Shores, Manitoulin

  • Similar totals (15–40 mm) forecast for:

    • Greater Sudbury
    • North Bay–West Nipissing
    • Huntsville–Baysville
    • Kitchener–Waterloo

Flood Risk Factors

Environment Canada and the Insurance Bureau of Canada warn that:

  • Heavy rain + melting snow + frozen ground = high flood potential, especially in low‑lying areas and basements.
  • Southwestern and south‑central Ontario are particularly vulnerable.

Active Alerts

  • Rainfall warnings (yellow level) in multiple regions.
  • Flood advisories around Waterloo Region and Guelph.
  • General weather advisories across parts of Ontario.

What This Means for You (Ajax, Ontario)

While Ajax isn’t specifically named in the rainfall warnings above, the GTA is adjacent to several affected zones, and similar weather systems often spill over.

  • Expect periods of rain, possibly heavy at times.
  • Localized pooling is possible, especially where snow remains or drains are blocked.

Quick Safety Checklist

  • Clear storm drains and gutters.
  • Move valuables off basement floors.
  • Keep sump pumps powered and tested.
  • Avoid driving through pooled water.
  • Monitor Environment Canada alerts for your exact location.


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