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Decentralized Democracy

House Hansard - 237

44th Parl. 1st Sess.
October 23, 2023 11:00AM
Context: House Hansard - 237 - Oct/23/23
Mr. Ryan Williams (Bay of Quinte, CPC)
  • Oct/23/23 3:03:55 p.m.
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Mr. Speaker, if RBC takes over HSBC, it will mean that Canada's number one bank will swallow up Canada's number seven bank and its 800,000 mortgage customers in one big gulp. What does that mean for Canadians? This week's variable mortgage rates show that HSBC's variable mortgage rate is 6.4% compared to RBC at 7.15%. That means that families in Toronto or Vancouver with a half-million dollar mortgage will pay $312 more per month over the $1,000 they are paying when they remortgage. Will the minister reject this merger or will she prove once again that the Prime Minister is just not worth the cost?
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