A new survey suggests that commercial lenders expect a busier year in 2024, thanks largely to a more stable interest-rate environment.

The survey conducted by Nashville-based Built Technologies, a provider of construction and real estate finance technology, shows that lenders in the United States are largely optimistic about the financial viability of real estate investment in 2024.

The company’s first State of Lending Survey gathered responses from 117 national, regional and global lending institutions.

According to Dan Gendler, director of analytics at Built, lenders expressed confidence that Federal Reserve Board rate cuts will boost lending activity in the commercial real estate market. They expressed concerns, though, over government regulations and project completion timelines.

Lenders responding to the survey also said that they expect alternative lending sources to fill the gaps left by traditional institutions unable to bear certain risks, either due to regulatory constraints or balance sheet considerations.