Marcus & Millichap

Index Rates

Current Rates

Current Index Rates as of 4:00 PM ET 04/21/2017
3-Year Swap 1.65% 5-Year Treasury 1.77%
5-Year Swap 1.87% 7-Year Treasury 2.05%
7-Year Swap 2.03% 10-Year Treasury 2.24%
10-Year Swap 2.19% Prime * 4%
* 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.

April 20, 2017

Multifamily Loan Programs > $5 million

Fixed Rate Agency Lenders
Term LTV Interest Rates
5 Year 55 to 80% 3.99% to 4.41%
7 Year 55 to 80% 4.04% to 4.46%
10 Year 55 to 80% 4.26% to 4.68%
Portfolio Lenders*
LTV Interest Rates
55 to 75% 3.55% to 4.20%
55 to 75% 3.95% to 4.20%
55 to 75% 4.10% to 4.50%
*Rates indicative of national average. Act/360

Multifamily Loan Programs < $5 million

Fixed Rate Agency Lenders
Term LTV Interest Rates
5 Year 55 to 80% 3.95% to 4.80%
7 Year 55 to 80% 4.45% to 4.85%
10 Year 55 to 80% 4.65% to 4.85%
Portfolio Lenders*
LTV Interest Rates
55 to 75% 3.55% to 4.15%
55 to 75% 4.95% to 4.40%
55 to 75% 4.10% to 4.80%
*Rates indicative of national average, Act/360

Commercial Loan Programs

Fixed Rate Portfolio Lenders*
Term LTV Interest Rates
5 Year 55 to 75% 3.90% to 4.50%
7 Year 55 to 75% 4.18% to 4.75%
10 Year 55 to 75% 4.45% to 4.99%
15/15
55 to 75% 4.06% to 5.00%
Bridge Floating LTV Spread Over Libor
Stabilized 65% 250 to 425
Re-Position 80% 300 to 500
Economic Commentary

4-13-2017  Geopolitical uncertainty continues to impact bond yields as the administration’s push to implement its fiscal agenda is clouding the growth picture in the U.S. This week, 10-year Treasury yields crept up slightly from their lows of 2.18% to settle at 2.24%. Comments from Treasury Secretary Steven Mnuchin indicating that the administration will soon bring tax reform are encouraging investors. All-in-all, coupon rates for CRE investors remain pretty stable.

(*Portfolio Lenders include Banks, Life Insurance Companies and Credit Unions)
Recent Transactions
Self-Storage
Tomball, TX
$4,917,500
4.75% Fixed
25-yr term / 25-yr amort.
Hospitality
Tampa, FL
$4,200,000
3.99% Fixed
10-yr term / 20-yr amort.
Industrial
Portland, OR
$4,150,000
4.75% Fixed
10-yr term / 25-yr amort.
Multifamily
San Diego, CA
$3,600,000
3.88% Fixed
30-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.