Marcus & Millichap

Index Rates

Current Rates

Current Index Rates as of 4:00 PM ET 07/17/2018
3-Year Swap 2.88% 5-Year Treasury 2.76%
5-Year Swap 2.90% 7-Year Treasury 2.83%
7-Year Swap 2.90% 10-Year Treasury 2.86%
10-Year Swap 2.92% Prime * 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.

July 12, 2018

Multifamily Loan Programs > $5 million

Fixed Rate Agency Lenders
Term LTV Interest Rates
5 Year 55 to 80% 4.87% to 5.30%
7 Year 55 to 80% 4.70% to 5.12%
10 Year 55 to 80% 4.73% to 5.15%
Portfolio Lenders*
LTV Interest Rates
55 to 75% 4.30% to 4.50%
55 to 75% 4.50% to 4.75%
55 to 75% 4.60% to 5.00%
*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% 4.85% to 5.25%
7 Year 55 to 80% 5.05% to 5.35%
10 Year 55 to 80% 5.35% to 5.55%
Portfolio Lenders*
LTV Interest Rates
55 to 75% 4.35% to 4.50%
55 to 75% 4.55% to 4.75%
55 to 75% 4.65% to 5.00%
*Rates indicative of national average, Act/360

Commercial Loan Programs

Fixed Rate Portfolio Lenders*
Term LTV Interest Rates
5 Year 55 to 75% 4.75% to 4.95%
7 Year 55 to 75% 4.85% to 5.00%
10 Year 55 to 75% 4.95% to 5.25%
15/15
55 to 75% 4.75% to 4.95%
Bridge Floating LTV Spread Over Libor
Stabilized 65% 250 to 425
Re-Position 80% 300 to 500
Economic Commentary

The market’s ongoing concern over a trade war between the United States and China escalated this week as the Trump administration slapped Chinese imports with additional tariffs. Investors anticipated that China would apply new tariffs of its own in response. As the week progressed however, China held off on immediate retaliation and tensions eased. Meanwhile, interest rates have held steady this week with the 10-year Treasury yield at 2.85 percent, an increase of only a few basis points since Monday. The markets are also waiting for a flood of earnings reports that are due over the next few weeks.

 

(*Portfolio Lenders include Banks, Life Insurance Companies and Credit Unions)
Recent Transactions
Multifamily
Rancho Cordova, CA
$10,200,000
4.40% Fixed
30-yr term/30-yr amot.
STNL
Hamden, CT
$4,470,000
4.85% Fixed
10-yr term/28-yr amort.
Office
Waldorf, MD
$3,450,000
4.86% Fixed
5-yr term/25-yr amort.
Student Housing
Appleton, WI
$2,930,500
4.59% Fixed
5-yr term/30-yr amort.

For more information, contact:

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