Commercial market: What’s in store for 2023? Brokers need to focus on some key trends, says commercial veteran – and communication will be essential Recent years have meant eventful times for Canada’s commercial mortgage market – and with some turbulence likely ahead in 2023, there’s plenty for brokers in the space to keep top of mind, according to a veteran …
Lenders hitting pause on some construction financing in high-rate environment Trend is likely to be temporary, commercial executive says, as market adjusts Construction projects are increasingly being shelved in Canada’s commercial space as higher borrowing rates and economic uncertainty continue to grip the market, according to a leading figure in the sector. Michel Durand (pictured), president and CEO of MCommercial, …
Commercial sector: Veteran shares what brokers need to focus on CEO on how brokers should be advising clients in the commercial space Throughout the trials and tribulations of 2022 in the mortgage space, the commercial realm has also seen a changing landscape with interest rates and borrowing costs on the rise. That’s not to say that opportunity doesn’t remain. One …
Rising interest rates are giving many pause for thought in the commercial space The rising-interest-rate environment that has gripped Canada in 2022 is having a significant impact on the country’s commercial financing market, with a noted shift seeing builders gravitate away from purpose-built apartment projects and towards condo construction. That’s according to MCommercial CEO and founder Michel Durand (pictured), who …
How are worst-hit commercial asset classes recovering from the pandemic? Some green shoots are appearing, although difficult times are likely still ahead. They were two of the commercial asset classes that were most badly pummelled during the COVID-19 pandemis – but with public health measures slowly easing across Canada, much attention will now turn to …
A COMMERCIAL MINDSET Michel Durand founder and CEO of MCommercial reflects on the career that’s helped him become one of the commercial mortgage sector’s leading lights. For Michel Durand, commercial mortgage brokering isn’t just something you can dip your toes into. It’s a full-time commitment – a pursuit that requires the utmost dedication, devotion and professionalism in order to find …
Michel Durand Founder and CEO MCommercial Michel Durand oversees an organization whose agents specialize in negotiating and securing commercial mortgages specific to different asset classes, with loans that are generally $5 million or more. He says that puts an extra onus on each agent to master the asset class they’re working on and steer the deal over the finish line. …
Making News Overnight Rate In late October, the Bank of Canada (“BOC”) announced the third 25 bps rate hike this year, which brought the overnight target rate to 1.75%. The increase comes after continued strength in economic figures and the negotiation of the “new NAFTA” trade deal with Mexico and the U.S. This pushed the prime rate of major Canadian …
Middle-class families in Ottawa will benefit from 243 new rental units being built in the city with an investment from the federal government. Two projects will be financed through the CMHC’s Rental Construction Financing initiative including $70.8 million for the construction of a twenty-seven storey building with 227 rental housing units. More than 200 will have rents lower than 30% …
Global Economy Outlook Just when you thought it was safe to get back into the pool…. Wednesday’s post-Fed minutes equity rally reversed sharply on Thursday as investors focused again on the outlook for the global economy. ECB (European Central Bank) chief Mario Draghi added fuel to this week’s fire with a warning about the troubled euro zone. Toss in Ebola, …
