Marcus & Millichap

Index Rates

Current Rates

Current Index Rates as of 4:00 PM ET 09/23/2016
3-Year Swap 1.08% 5-Year Treasury 1.16%
5-Year Swap 1.19% 7-Year Treasury 1.44%
7-Year Swap 1.31% 10-Year Treasury 1.62%
10-Year Swap 1.47% 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.

September 22, 2016

Multifamily Loan Programs > $3 million

Fixed Rate Agency Lenders
Term LTV Interest Rates
5 Year 55 to 80% 3.45% to 3.87%
7 Year 55 to 80% 3.42% to 3.84%
10 Year 55 to 80% 3.65% to 4.07%
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% 3.60% to 4.30%
7 Year 55 to 80% 4.00% to 4.50%
10 Year 55 to 80% 4.15% to 4.65%
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%
20 Year 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

9-22-2016  The 10-year U.S. Treasury has been trading lower, closing at 1.63%, since the Federal Reserve decided to leave the federal funds rate unchanged this month. Policy makers left the door open for a rate increase before the end of December and also revised the path of interest rates for the coming years. The S&P 500 Index and other U.S. equity indices continue to hover around all-time highs and WTI Oil is trading at $46 per barrel. Capital remains plentiful for permanent financing of multifamily and retail assets.

(*Portfolio Lenders include Banks, Life Insurance Companies and Credit Unions)
Recent Transactions
Multifamily
Redondo Beach, CA
$7,800,000
3.35% Fixed
10-yr term / 30-yr amort.
STNL
Columbus, OH
$2,725,000
4.55% Fixed
20-yr term / 25-yr amort.
Self-Storage
Clarksville, TN
$2,025,000
4.57% Fixed
10-yr term / 30-yr amort.
STNL
Madison Heights, MI
$1,770,000
4.25% Fixed
5-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
Rick Lechtman
Vice President/Regional Director
Manhattan
(212) 430-5100
Rick.Lechtman@marcusmillichap.com
Terms, rates and conditions subject to change.