big bank earnings

CIBC reports rising mortgage delinquencies, but doesn’t expect “material” losses

March 3, 2024 No Comments

CIBC reported a rise in mortgage delinquencies in the first quarter, though they still remain below pre-pandemic levels and aren’t expected to translate into “material” losses, the bank said.

National Bank of Canada quarterly earnings

National Bank sees delinquencies for its variable-rate mortgages rise to pre-pandemic levels

February 29, 2024 No Comments

National Bank reported a rise in mortgage delinquencies, though primarily in its insured variable-rate mortgage portfolio.

RBC says it’s “very comfortable” with due diligence done on HSBC Canada’s mortgage portfolio

February 28, 2024 No Comments

RBC’s executive team today expressed confidence in its due diligence of HSBC Canada’s mortgage portfolio during the $13.5-billion acquisition.

BMO sees rise in loan losses, but says mortgage clients remain “resilient”

February 28, 2024 No Comments

BMO reported rising loan losses in the first quarter and anticipates a further increase before conditions improve in the second half of the year with expected Bank of Canada rate cuts.

13,000 CIBC mortgage clients have come out of negative amortization

December 18, 2023 4 Comments

Over the past three months, roughly 13,000 CIBC clients have taken action to bring their mortgages out of negative amortization.

TD saw a drop in negatively amortizing mortgages in the fourth quarter

December 10, 2023 No Comments

TD Bank said “positive payment actions” taken by its mortgage clients have reduced the number of mortgages that currently have a negative amortization.

Some mortgage clients could see up to 40% payment increases at renewal, BMO says

December 4, 2023 No Comments

Like most other financial institutions, BMO said the bulk of its mortgage portfolio will be up for renewal in the coming three years, with the payment increases averaging up to 40%.

RBC bracing for renewal impact: three quarters of its mortgages to see higher rates by 2026

December 2, 2023 No Comments

Despite interest rates having been elevated for over a year, Canada’s largest bank said the bulk of the impact is yet to be felt with nearly three quarters of its mortgage portfolio coming up for renewal over the next three years.

Scotiabank expects credit losses to worsen with over $200B in mortgages coming up for renewal by 2026

November 28, 2023 1 Comment

Scotiabank saw a rise in mortgage delinquencies in the fourth quarter, and said it’s bracing for further credit losses due to higher-for-longer interest rates and a wave of upcoming mortgage renewals.

“Performance has been stellar” on mortgage renewals so far: BMO

August 31, 2023 No Comments

Despite facing mortgage payment increases of roughly 10% to 20%, BMO says the majority of its mortgage clients are having no issues with their renewals.