Marcus & Millichap

Index Rates

Current Rates

Current Index Rates as of 4:00 PM ET 12/9/2016
3-Year Swap 1.55% 5-Year Treasury 1.89%
5-Year Swap 1.86% 7-Year Treasury 2.26%
7-Year Swap 2.08% 10-Year Treasury 2.47%
10-Year Swap 2.29% Prime * 3.5%
* Prime updated once daily.
Rate Chart

Capital Alert

Get the latest debt market information on terms and rates, including data from Fannie Mae, conduit spreads, Treasury and LIBOR indices, economic commentary and samples of recent transactions closed by Marcus & Millichap Capital Corporation.

December 1, 2016

Multifamily Loan Programs > $3 million

Fixed Rate Agency Lenders
Term LTV Interest Rates
5 Year 55 to 80% 4.07% to 4.49%
7 Year 55 to 80% 4.11% to 4.53%
10 Year 55 to 80% 4.37% to 4.79%
Portfolio Lenders*
LTV Interest Rates
55 to 75% 3.10% to 3.89%
55 to 75% 3.45% to 4.02%
55 to 75% 3.65% to 4.25%
*Rates indicative of national average. Act/360

Multifamily Loan Programs < $3 million

Fixed Rate Agency Lenders
Term LTV Interest Rates
5 Year 55 to 80% 3.85% to 4.55%
7 Year 55 to 80% 4.25% to 4.75%
10 Year 55 to 80% 4.40% to 4.90%
Portfolio Lenders*
LTV Interest Rates
55 to 75% 3.30% to 3.90%
55 to 75% 3.45% to 4.15%
55 to 75% 3.75% to 4.40%
*Rates indicative of national average, Act/360

Commercial Loan Programs

Fixed Rate Portfolio Lenders*
Term LTV Interest Rates
5 Year 55 to 75% 3.40% to 3.95%
7 Year 55 to 75% 3.65% to 4.25%
10 Year 55 to 75% 3.90% to 4.40%
15/15
55 to 75% 4.80% to 5.85%
Bridge Floating LTV Spread Over Libor
Stabilized 65% 250 to 425
Re-Position 80% 300 to 475
Economic Commentary

12-1-2016  The 10-year U.S. Treasury yield spiked and closed at 2.45%, the highest level since July 2015. The wild move came amid speculation that stronger readings in this week's ADP report sparked expectations that Friday's government employment report could be better than expected, and also show a bigger-than-expected jump in wages, which may drive interest rates even higher. On Wednesday, OPEC agreed to its first oil production cut in eight years, triggering a rally in oil prices. In commodity markets on Thursday, U.S. crude settled up 3.3 percent at $51.06 a barrel. Plentiful levels of capital are available for commercial real estate..

(*Portfolio Lenders include Banks, Life Insurance Companies and Credit Unions)
Recent Transactions
Industrial
Philadelphia, PA
$7,300,000
4.25% Fixed
20-yr term / 20-yr amort.
Multifamily
Phoenix, AZ
$4,165,250
4.52% Fixed
10-yr term / 30-yr amort.
Hospitality
Los Alamos, NM
$3,550,000
4.65% Fixed
5-yr term / 30-yr amort.
Multifamily
Chula Vista, CA
$3,020,000
3.75% Fixed for 5-yrs
15-yr term / 3-yr IO

For more information, contact:

William E. Hughes
Senior Vice President
Newport Beach
(949) 419-3200
William.Hughes@marcusmillichap.com
Richard Katzenstein
Senior Vice President/National Director
Manhattan
(212) 430-5100
Richard.Katzenstein@marcusmillichap.com
Rick Lechtman
Vice President/Regional Director
Manhattan
(212) 430-5100
Rick.Lechtman@marcusmillichap.com
Terms, rates and conditions subject to change.