July 7, 2017 / 10:50 AM / a year ago

PRESS DIGEST- Canada-July 7

July 7 (Reuters) - The following are the top stories from select Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Royal Bank of Canada has hiked rates on its fixed-term mortgages amid rising bond yields and widespread anticipation that the country's central bank will raise its benchmark interest rate next week. tgam.ca/2tYEPG0

** As the housing market in Toronto cools, the rental market is especially hot following the announcement of new provincial housing measures, according to a report from Urbanation Inc. tgam.ca/2sTB2EQ

** Apache Corp announced late Thursday that it will complete what has been a staged departure from Canada by selling Alberta and British Columbia assets to Calgary-based Paramount Resources Ltd. tgam.ca/2sTMlx5


** Fears of Sears Canada Inc retirees were realized Thursday when the insolvent retailer confirmed it will seek court approval next week to suspend their health, dental and life insurance benefits as well as special payments to the company's underfunded defined benefit pension plan, which has a deficit of almost C$267 million ($205.84 million). bit.ly/2sTZIx5

** Canada's top banking regulator is taking aim at uninsured mortgages in the latest effort to cool overheated pockets in the country's real estate market. Proposals unveiled Thursday by the Office of the Superintendent of Financial Institutions would require stress tests to qualify for all uninsured mortgages, and would make the qualifying rate for these mortgages the contract rate plus two percent. bit.ly/2sUeuDT ($1 = 1.2971 Canadian dollars) (Compiled by Bengaluru newsroom)

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