Axel interviews Christian Pomerleau & Admir Bikic, mortgage brokers at PMML, to talk about how the changing economic environment affects the real estate market. 

 

Christian, Admir and Alex talk about The Bank of Canada increasing its key interest rate by 50 percentage points on Wednesday, October 26, from 3.25% to 3.75% and what has been happening in the financial market.

 

They dive deep into The Bank of Canada’s main goal to take control of inflation without sending the country into a severe recession and how they do it, how long is this going to last for and the importance of not keeping these interest rates high for too long.

 

Additionally they converse about the price of construction, why some developers are putting their projects on pause instead of working on them amidst the environment, the MLI Program, the importance of the preparation rate and to get more financing possible for your project.

 

Finally they talk about the importance of having an architect or engineer follow the quality control of your projects and having it signed, why small investors are out of the market and the opportunities out there for those who are well prepared or have access to more capital, and tons of advice for those who still want to do transactions into small or medium multifamily.

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