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](https://i.cbc.ca/1.6668157.1684779794!/fileImage/httpImage/image.jpg_gen/derivatives/16x9_620/hsbc-bank-turkey.jpg)
![A customer uses an automated teller machine (ATM) outside an HSBC Holdings Plc bank branch in the Nisantasi district of Istanbul, Turkey, on Thursday, June 11, 2015. The Islamic-rooted AK Party failed to maintain its parliamentary majority in Sunday's election for the first time in more than a decade. Photographer: Kerem Uzel/Bloomberg A woman uses an ATM machine.](https://i.cbc.ca/1.6668157.1684779794!/fileImage/httpImage/image.jpg_gen/derivatives/16x9_620/hsbc-bank-turkey.jpg)
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.