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Big Six banks mortgage books on fire as housing heats up VIDEO SIGN OUT Canada’s Big Six banks generated lots of headlines as they reported their fiscal first-quarter results this week. Loan-loss provisions plunged far more than analysts had expected, driving big earnings beats across the sector. A few banks actually released earlier-booked loss reserves on so-called “performing” loans. With one exception (Bank of Nova Scotia) revenue was stronger than it was a year earlier, an impressive accomplishment amid the pandemic-ravaged economies in which the banks operate. And their capital markets businesses provided outsized profit gains. But another, less heralded, trend also become apparent. The banks are selling more residential mortgages than ever before, and reported sharp increases in their Canadian residential mortgage balances over the past year. Low interest rates and work-from-home requirements are compelling Canadians to buy homes. And thatâ

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