Interest Rate Ranges: Quoted Past 60 Days

The last 60 days of permanent financing and bridge financing quotes have seen little development from prior observations. A re-trenching of short and long-duration U.S. Treasury yields, coupled with extended downward pressure on loan spreads, have meant overall coupons have remained relatively flat during this period.

It is particularly noteworthy that elevated concerns over persistent inflation likely contributed to the unanimous decision to keep their benchmark rate range unchanged at the recent Federal Open Market Committee (FOMC) meeting. That somewhat surprising unanimity, coupled with nine of 19 voting members signaling that their likely next move this year is a hike in the benchmark, not a cut, contributes to that upward pressure on the secured overnight financing rate (SOFR) and shorter-dated treasuries.

Life insurance companies remain highly active, along with regional, super-regional, and national money-center banks and credit unions. Collateralized loan obligation (CLO) activity remains robust, especially in multifamily and industrial asset types. Agencies are quite busy, and conduit commercial mortgage-backed securities (CMBS) bids remain competitive. Persistent inflation concerns, higher rates, and lower investment sales transaction volumes are offset by the competing force of greater-than-normal liquidity. Given this, we expect short and mid-term rates to remain relatively flat through the rest of the year, with a possibility they could increase on average as we get closer to Q4.

Previous Average Interest Rate Quotes:

May 2026
April 2026
March 2026
February 2026
January 2026
December 2025
November 2025
October 2025
September 2025
August 2025
July 2025
June 2025
May 2025