PRESS DIGEST- Canada-July 7

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

THE GLOBE AND MAIL

** 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

NATIONAL POST

** 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)

Source: Reuters

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