Marcus & Millichap

Index Rates

Current Rates

Current Index Rates as of 4:00 PM ET 01/13/2017
3-Year Swap 1.70% 5-Year Treasury 1.9%
5-Year Swap 1.95% 7-Year Treasury 2.2%
7-Year Swap 2.12% 10-Year Treasury 2.4%
10-Year Swap 2.29% Prime * 3.75%
* 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.

January 12, 2017

Multifamily Loan Programs > $3 million

Fixed Rate Agency Lenders
Term LTV Interest Rates
5 Year 55 to 80% 4.08% to 4.50%
7 Year 55 to 80% 4.10% to 4.52%
10 Year 55 to 80% 4.31% to 4.73%
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% 4.10% to 4.80%
7 Year 55 to 80% 4.50% to 5.00%
10 Year 55 to 80% 4.65% to 5.15%
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

1-12-2017 Treasury bonds have priced higher with yields falling since the start of the year based on speculation that post-election market moves went too far. The market and investors are awaiting corporate earnings and fresh economic data for clues on economic strength. The benchmark 10-year Treasury’s yield fell to 2.36% after touching the lowest point since November 30; effectively a week before the election. Debt sources are anxious to put money out given the new year and prevailing market conditions.

(*Portfolio Lenders include Banks, Life Insurance Companies and Credit Unions)
Recent Transactions
Multifamily
Lubbock, TX
$17,000,000
4.893% Fixed
10-yr term / 30-yr amort.
STNL
Turlock, CA
$3,990,000
4.10% Fixed
7-yr term / 30-yr amort.
Multi-Tenant Retail
Rockville, MD
$3,500,000
4.65% Fixed
10-yr term / 25-yr amort.
Multifamily
Portland, OR
$2,932,000
4.45% Fixed
10-yr term / 30-yr amort.

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
Terms, rates and conditions subject to change.