State of Lending Part 2: Canada Mortgage Bond Liquidity & CMHC Policy Changes with Adam Powadiuk and Aaron Cameron

Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate. What if the global geopolitical churn is actually creating opportunities to realign your portfolio? In part two of a two-part episode on State of Lending on the Commercial Real Estate Podcast, powered by First National, hosts Aaron Cameron and Adam Powadiuk discuss the latest developments affecting borrowers, developers, and lenders across the country. They explain how a sharp increase in Canada Mortgage Bond liquidity is creating more competition among lenders while examining the long-term impact of the large wave of construction loans set to mature in 2027 and 2028.  The conversation also covers major CMHC policy changes taking effect on September 30, including tougher energy efficiency standards, stricter application requirements, and the likelihood of longer approval timelines as applications surge. Aaron and Adam also discuss why lenders are placing greater emphasis on net effective rents, updated stabilized expense assumptions, and realistic project schedules. This episode provides practical guidance for anyone financing, developing, or investing in Canadian commercial real estate.  **What You Will Learn:** - How to navigate the Canada Mortgage Bond liquidity explosion. - Why the September 30 energy efficiency requirement change will create a backlog at CMHC - The ACLP maturity tsunami coming in 2027-2028 and why CMHC’s $20 billion capacity increase was essential - How to underwrite apartment rents correctly using net effective rates, not face rents - The stabilized expense increase across Canada, especially Quebec’s material jump. - Why stricter CMHC application timelines are now enforced The post State of Lending Part 2: Canada Mortgage Bond Liquidity & CMHC Policy Changes with Adam Powadiuk and Aaron Cameron appeared first on Commercial Real Estate Podcast.