Vancouver Commercial Real Estate Podcast VCREP #175 | Where the Smart Money Moves Next
Oct 16, 2025
John Switzer, managing partner at Impact Commercial with a rich banking and investment background, joins Amanda Lam, an associate managing partner with two decades in commercial banking. They dive into the shifting tides of commercial lending as interest rates and bond yields have been volatile. Expect insights on the resurgence of retail and office spaces, where lenders are focusing their capital, and the best strategies for securing financing. Discover which asset classes are attracting smart investments and whether to opt for short or long-term fixed rates.
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Fixed Rates Follow Bond Yields
- Bond yields, not just the Bank of Canada rate, drive fixed commercial mortgage rates.
- Sticky bond yields mean fixed rates may not fall as fast as overnight cuts suggest.
Construction Loans Suffer From Variable Rates
- Commercial investment loans are mostly fixed while construction and land loans are variable.
- High variable rates have squeezed construction and land development activity.
Municipal Fees Are The Key Lever
- Municipal fees are the most controllable lever to stimulate development today.
- Lowering municipal charges can materially improve project economics faster than interest rate moves alone.
