Interest Rate Ranges: Quoted Past 60 Days

Permanent financing remains highly competitive, with many banks, life companies and credit unions fighting to stay in the 5% range for short fixed-rate loans with terms of three to five years, though life company spreads on longer-duration, 10-plus-year terms are steadily compressing because they are not deploying enough capital into matched-funded investments, such as lower-term life or annuity policies.

Traditionally conservative lenders, such as life companies, are competing in a market where coupons can only go so low by offering additional interest-only periods, limited recourse and greater prepayment flexibility. CMBS continues to compete on leverage and full-term interest-only structures, and recent conduit offerings have priced tightly.

Meanwhile, bridge-for-time requests remain the highest priority for many sponsors, and there is ample capital to meet those needs. Traditional transitional bridge lending is also active, with several new players in the collateralized loan obligation (CLO) and debt fund space competing for deals. Spreads continue to tighten across bridge products even as indexes remain sticky.

Many sponsors are opting for floating-rate loans or short-duration fixed-rate loans with prepayment flexibility.

Previous Average Interest Rate Quotes:

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