Marcus & Millichap

Index Rates

Current Rates

Current Index Rates as of 4:00 PM ET 05/26/2017
3-Year Swap 1.66% 5-Year Treasury 1.79%
5-Year Swap 1.87% 7-Year Treasury 2.06%
7-Year Swap 2.02% 10-Year Treasury 2.25%
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.

May 25, 2017

Multifamily Loan Programs > $5 million

Fixed Rate Agency Lenders
Term LTV Interest Rates
5 Year 55 to 80% 4.02% to 4.44%
7 Year 55 to 80% 4.04% to 4.46%
10 Year 55 to 80% 4.27% to 4.69%
Portfolio Lenders*
LTV Interest Rates
55 to 75% 3.75% to 4.20%
55 to 75% 4.05% to 4.20%
55 to 75% 4.25% 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% 4.05% to 4.75%
7 Year 55 to 80% 4.30% to 4.70%
10 Year 55 to 80% 4.50% to 4.70%
Portfolio Lenders*
LTV Interest Rates
55 to 75% 3.75% to 4.15%
55 to 75% 4.05% to 4.40%
55 to 75% 4.25% 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% 4.00% to 4.50%
7 Year 55 to 75% 4.33% to 4.75%
10 Year 55 to 75% 4.53% to 4.99%
15/15
55 to 75% 4.60% to 5.00%
Bridge Floating LTV Spread Over Libor
Stabilized 65% 250 to 425
Re-Position 80% 300 to 500
Economic Commentary

5-25-2017  The 10-Year U.S. Treasury bounced within a very narrow range all week and then settled in at 2.254%. Heading into the Memorial Day holiday weekend, Friday’s activity is expected to be light with a short trading day. The May minutes from the Fed Open Market Committee meeting indicated the Federal Reserve mulls shrinking its $4.5 trillion balance sheet later this year. Analysts are currently pricing in the next rate hike to take place at the Fed’s next meeting in June and the possibility of no further rate hikes through year-end 2017. The minutes also indicate the Fed’s concern of shrinking the balance sheet and not allowing interest rates to rise suddenly.

 

(*Portfolio Lenders include Banks, Life Insurance Companies and Credit Unions)
Recent Transactions
Multifamily
Tampa, FL
$19,760,000
4.60% Fixed
10-yr term / 30-yr amort.
Shopping Strip
Austin, TX
$2,660,000
4.75% Fixed
5-yr term / 25-yr amort. 
Multifamily
Studio City, CA
$2,440,000
4.40% Fixed
30-yr term / 30-yr amort.
STNL 
Fayetteville, NC
$1,589,250
4.53% Fixed
10-yr term / 25-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.