HSBC sale to RBC 'a sad day for Canadian mortgage consumers,' expert says

The rubber-stamped sale of HSBC's Canadian operations to Royal Bank will lessen competition on mortgage rates, says one analyst who touted the bank's key role in lowering borrowing costs through its presence in Canada.

HSBC sale to RBC 'a sad day for Canadian mortgage consumers,' expert says
A woman uses an ATM machine.

The rubber-stamped sale of HSBC's Canadian operations to Royal Bank will lessen competition on mortgage rates, says one analyst who touted the bank's key role in lowering borrowing costs through its presence in Canada.