“In addition, more than 60% of the mortgage loans in Quebec’s multi-unit and commercial real estate portfolio will mature in 2024/25. Several clients will renew their mortgage loan and will experience a significant increase which most certainly will cause a financial deficit for several buildings.”

That backdrop could result in more sales and a possible reduction in prices, Quinn said, as well as clients who have refinanced their properties in the past gearing up for a new market of opportunities.

“It’s important to be patient as we return to a volatile market,” he said. “For these reasons, and considering the volatility of this market and the potential for inflation to rise again, I don’t believe that interest rates will decrease significantly in the coming years.”

What should commercial mortgage brokers focus on at present?

Top of mind for commercial brokers in the current market, according to Quinn, should be attentiveness and efficiency when dealing with clients – as well as remaining innovative in mortgage brokerage operations and staying attuned to market fluctuations and trends.

Those were all key considerations for Quinn throughout the market turbulence of 2022 and 2023, with his business’s strong performance amidst a stormy economy helping him clinch the Canadian Mortgage Award last year for Broker of the Year – Commercial.

Houses for Sale Ottawa under $400 000

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