Rate Monitor

The 10-Year Treasury drives pricing for agency permanent loans and CMBS. When it moves 25bps, your rate moves 25bps. SOFR sets the index for floating-rate bridge loans, construction financing, and most bank credit facilities.

The Fed Funds rate signals where short-term rates are headed. When the Fed cuts, SOFR follows within days. Bridge loan borrowers feel this immediately. Treasury-indexed borrowers may not - the 10-Year often moves independently of Fed policy.

The 30-Year Mortgage rate affects cap rates indirectly. When residential borrowing costs rise, fewer buyers compete for single-family homes, pushing demand toward rentals. That supports multifamily valuations even as financing costs increase.

Rates are pulled from FRED and cached for 6 hours. Each series publishes on its own schedule: 10-Year Treasury and SOFR publish daily on business days, Fed Funds Rate publishes monthly, and 30-Year Mortgage publishes weekly (Thursdays).

The 30-day change compares the most recent observation to the closest available data point from approximately 30 days prior. For monthly series like Fed Funds, this may compare consecutive monthly observations rather than exact 30-day intervals.

The Agency Rate Estimate adds 150-200bps to the 10-Year Treasury as a rough guide. Actual agency permanent loan rates depend on property type, leverage, borrower strength, and market conditions. This estimate should not be used for underwriting.