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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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Your daily horoscope: November 28

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

The message of the stars on your birthday this year is that you need to refocus your priorities away from material things and toward matters of a more emotional and spiritual nature. There can never be too much love in your life.

ARIES (March 21 - April 20):

If you get the chance to impress a very important person today you must not let it pass. The planets indicate that this individual could be a big plus for you in your career in the near future. Flattery will get you everywhere.

TAURUS (April 21 - May 21):

If someone you work with offers to do you a favour today don’t be suspicious about their motives. It would appear they really do want to see you do well and are prepared to assist you on your journey to the top.

GEMINI (May 22 - June 21):

The most important thing now is that you listen to your conscience and do what it suggests, even if you cannot yet see how that will change things. A deeper part of your mind knows what you need, so heed what it tells you.

CANCER (June 22 - July 23):

You may be finding it hard to get through to friends and colleagues at the moment but that’s okay. In fact, the less communication you have with certain people between now and the weekend the easier it will be to make the right calls.

LEO (July 24 - Aug. 23):

It would be a mistake to cut yourself off from people who can help you financially or professionally just because you do not approve of what they have been doing in their private lives. It will pay to be more forgiving.

VIRGO (Aug. 24 - Sept. 23):

It won’t be long before the good times return but over the next few days you would be wise to act as if other people’s needs are more important than your own. Cheer up Virgo, you’ve got so much to look forward to!

LIBRA (Sept. 24 - Oct. 23):

One of the rules of the universe is that your thoughts create your reality and if you keep that point in mind over the next 24 hours some really positive things will begin to develop. The more you smile the more you will gain.

SCORPIO (Oct. 24 - Nov. 22):

You may feel sorry for a friend who is down on their luck but don’t let their personal needs overshadow your own. It’s not your fault they made some truly horrible decisions and you certainly don’t have to share in their suffering.

SAGITTARIUS (Nov. 23 - Dec. 21):

You may be in a generous mood but while Mercury is moving retrograde through your sign it would be a mistake to make the kind of promises you don’t know for sure you can keep. Give one thing away and you could lose it all.

CAPRICORN (Dec. 22 - Jan. 20):

Cosmic activity in the most sensitive area of your chart is sure to make you more suspicious than usual but that could be a good thing. Although you like to think the best of people not everyone has your interests at heart.

AQUARIUS (Jan. 21 - Feb. 19):

The more time you spend with family and friends today the happier you will be, and the happier you are the more you can pass on some of your joy to the world. If you’re not smiling then you’re not doing life right!

PISCES (Feb. 20 - Mar. 20):

It is time to put feelings of regret and remorse behind you once and for all so you can move on with your life in a more positive direction. Don’t let the failures of yesterday cast a dark shadow on your hopes for tomorrow.

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