CA - TD And Royal Bank: Buy The Mortgage Renewal Panic

2024-04-05 17:09:15 ET

Summary

• The Toronto-Dominion Bank and Royal Bank of Canada are two of Canada's biggest banks.
• Both stocks are fairly cheap today.
• Both TD and Royal Bank face risks associated with Canadian mortgages coming up for renewal at higher interest rates.
• Fortunately, mortgages in Canada are full recourse.
• I consider TD stock a buy today, and Royal Bank a hold.

The Toronto-Dominion Bank ( TD )( TD:CA ) and Royal Bank of Canada ( RY )( RY:CA ) are Canada’s biggest banks. Royal Bank is the biggest by market cap and total assets , while TD has the largest U.S. banking segment....

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