Current multifamily and commercial mortgage rates & spreads
Real-time lending data backed by capital market expertise
Northmarq draws on long-standing relationships with GSEs, FHA/HUD, life companies, bridge lenders, banks and CMBS lenders to provide accurate insight into commercial mortgage rates and spreads. These partnerships support innovative financing strategies across multifamily and commercial properties.
Real Time Rates
U.S. Treasuries
Hourly Treasuries
Secured Overnight Financing Rate
Current Index Rates
CURRENT INDEX RATES
| Term | Rate |
|---|---|
| 5-Year Treasury | 3.66% |
| 7-Year Treasury | 3.86% |
| 10-Year Treasury | 4.08% |
| 30-Day Avg. SOFR | 3.67% |
* Rates are general in nature and are for informational use only. Rates are subject to change at any time and the information provided is not a commitment to lend. For specific quotes based on your property, contact a local Northmarq office.
** Rate buy downs available on deal by deal basis.
Multifamily Conventional Rates & Spreads
FANNIE MAE - CONVENTIONAL
Learn More| Term | LTV | DSCR | Spread (bps) | Rate |
|---|---|---|---|---|
| 15-Year | 65% | 1.35x | 135 - 165 | 5.43% - 5.73% |
| 10-Year | 55% | 1.55x | 95 - 115 | 5.03% - 5.23% |
| 10-Year | 65% | 1.35x | 105 - 135 | 5.13% - 5.43% |
| 10-Year | 80% | 1.25x | 125 - 155 | 5.33% - 5.63% |
| 7-Year | 55% | 1.55x | 100 - 120 | 4.86% - 5.06% |
| 7-Year | 65% | 1.35x | 110 - 140 | 4.96% - 5.26% |
| 7-Year | 80% | 1.25x | 135 - 165 | 5.21% - 5.51% |
| 5-Year | 55% | 1.55x | 110 - 130 | 4.76% - 4.96% |
| 5-Year | 65% | 1.35x | 120 - 150 | 5.06% - 5.36% |
| 5-Year | 75% | 1.25x | 155 - 185 | 5.41% - 5.71% |
| 10 SARM | 75% | 1.00x | 215 - 225 | 5.82% - 5.92% |
FREDDIE MAC CME - FIXED RATE
Learn More| Term | LTV | DSCR | Spread (bps) | Rate |
|---|---|---|---|---|
| 15-Year | 80% | 1.25x | 135 - 155 | 5.43% - 5.63% |
| 10-Year | 55% | 1.55x | 95 - 100 | 5.03% - 5.08% |
| 10-Year | 65% | 1.35x | 105 - 120 | 5.13% - 5.28% |
| 10-Year | 80% | 1.25x | 115 - 135 | 5.23% - 5.43% |
| 7-Year | 55% | 1.55x | 100 - 110 | 4.86% - 4.96% |
| 7-Year | 65% | 1.35x | 115 - 135 | 5.01% - 5.21% |
| 7-Year | 80% | 1.25x | 135 - 155 | 5.21% - 5.41% |
| 5-Year | 75% | 1.25x | 140 - 160 | 5.06% - 5.26% |
| 10 ARM | 80% | 1.25x | 205 - 230 | 5.72% - 5.97% |
223(f) Refinancing (FHA)
Learn More| Term | LTV | DSCR | Amortization | Rates* |
|---|---|---|---|---|
| 35-Year | 87% | 1.15x | 35 | 5.15 - 5.60% |
221(d)4 Construction / Permanent (FHA)
| Term | LTV | DSCR | Amortization | Rates* |
|---|---|---|---|---|
| 40-Year | 87% | 1.15x | 40 | 5.60- 6.05% |
LIFE CO - MULTIFAMILY
Learn More| Term | Amortization | LTV | Spread (bps) | Rate |
|---|---|---|---|---|
| 5-Year | 25-30 | 50%-65% | 135 - 205 | 5.01% - 5.71% |
| 5-Year | 25-30 | 60%-75% | 160 - 190 | 5.26% - 5.56% |
| 10-Year | 25-30 | 50%-65% | 115 - 140 | 5.23% - 5.48% |
| 10-Year | 25-30 | 60%-75% | 140 - 170 | 5.48% - 5.78% |
| 15-Year | Fully Amortizing | 60%-75% | 145 - 215 | 5.82% - 6.52% |
CMBS SPREADS/RATES
| Term | Amortization | LTV | Spread (bps) | Rate |
|---|---|---|---|---|
| 5-Year | 30 | 65-75% | 250 - 300 | 6.16% - 6.66% |
| 10-Year | 30 | 65-75% | 225 - 275 | 6.33% - 6.83% |
| 5-Year | 30 | 65-75% | 250 - 300 | 6.16% - 6.66% |
| 10-Year | 30 | 65-75% | 225 - 275 | 6.33% - 6.83% |
* Rates are general in nature and are for informational use only. Rates are subject to change at any time and the information provided is not a commitment to lend. For specific quotes based on your property, contact a local Northmarq office.
** Rate buy downs available on deal by deal basis.
Multifamily Affordable Rates & Spreads
MAH PRESERVATION* - FIXED RATE (>$6M LOAN SIZE)
| Term | Amort | Index | LTV | DSCR | All-In Rate |
|---|---|---|---|---|---|
| 10-Year | 30 | 10Y UST | 60% | 1.50x | 4.93% - 5.23% |
| 10-Year | 30 | 10Y UST | 80% | 1.20x | 5.13% - 5.43% |
| 7-Year | 30 | 7Y UST | 60% | 1.50x | 4.81% - 5.11% |
| 7-Year | 30 | 7Y UST | 80% | 1.20x | 5.01% - 5.31% |
| 5-Year | 30 | 5Y UST | 60% | 1.50x | 4.81% - 5.11% |
| 5-Year | 30 | 5Y UST | 80% | 1.20x | 4.96% - 5.26% |
SPECIAL PUBLIC PURPOSE ("SPP")** - FIXED RATE
| Term | Amort | Index | LTV | DSCR | All-In Rate |
|---|---|---|---|---|---|
| 10-Year | 30 | 10Y UST | 55% | 1.55x | 4.88% - 5.18% |
| 10-Year | 30 | 10Y UST | 80% | 1.25x | 5.18% - 5.58% |
| 7-Year | 30 | 7Y UST | 55% | 1.55x | 4.71% - 5.01% |
| 7-Year | 30 | 7Y UST | 80% | 1.25x | 5.06% - 5.46% |
| 5-Year | 30 | 5Y UST | 55% | 1.55x | 4.61% - 4.91% |
| 5-Year | 30 | 5Y UST | 80% | 1.25x | 5.06% - 5.46% |
PRESERVATION
| Product | Term | Amort | Index | LTV | DSCR | All-In Rate |
|---|---|---|---|---|---|---|
| Fixed | 5-Year | 30 | 5Y UST | 75% | 1.25x | 5.01% - 5.16% |
| Fixed | 7-Year | 30 | 7Y UST | 80% | 1.25x | 5.21% - 5.36% |
| Fixed | 10-Year | 30 | 10Y UST | 80% | 1.25x | 5.23% - 5.38% |
| Capped ARM | 10-Year | 30 | 30d Avg SOFR | 80% | 1.25x | 5.98% - 6.18% |
IMMEDIATE - MOD REHAB
| Product | Term | Amort | Index | LTV | DSCR | All-In Rate |
|---|---|---|---|---|---|---|
| 9% LIHTC | 15-Year | 35 | 10Y UST | 90% | 1.15x | 5.78% - 5.93% |
| 4% Tax-Exempt Loan | 15-Year | 35 | 10Y UST | 90% | 1.15x | 5.33% - 5.48% |
FORWARD COMMITMENT
| Product | Term | Amort | Index | LTV | DSCR | All-In Rate |
|---|---|---|---|---|---|---|
| 9% LIHTC | 15-Year | 35 | 10Y UST | 90% | 1.15x | 6.28% - 6.43% |
| 4% Tax-Exempt Loan (30-Month) | 15-Year | 35 | 10Y UST | 90% | 1.15x | 5.83% - 5.98% |
| Non-LIHTC (30-Month) | 15-Year | 30 | 10Y UST | 80% | 1.25x | 6.23% - 6.38% |
REFINANCE/ACQUISITION | 223(f) (FHA)
| Product | Term | Amort | LTV | DSCR | Rate Before MIP |
|---|---|---|---|---|---|
| Market Rate | 35-Year | 35 | 87% | 1.15x | 5.25%-5.70% |
| LIHTC Affordable* | 35-Year | 35 | 90% | 1.11x | 5.25%-5.70% |
| Project Based Affordable** | 35-Year | 35 | 90% | 1.11x | 5.25%-5.70% |
NEW CONSTRUCTION/SUB REHAB | 221(d)(4) (FHA)
| Product | Term | Amort | LTV | DSCR | Rate Before MIP |
|---|---|---|---|---|---|
| Market Rate | 40-Year | 40 | 87% | 1.15x | 5.70%-6.20% |
| LIHTC Affordable* | 40-Year | 40 | 90% | 1.11x | 5.70%-6.20% |
* Rates are general in nature and are for informational use only. Rates are subject to change at any time and the information provided is not a commitment to lend. For specific quotes based on your property, contact a local Northmarq office.
** Rate buy downs available on deal by deal basis.
Commercial Rates & Spreads
LIFE CO - COMMERCIAL
Learn More| Term | Amortization | LTV | Spread (bps) | Rate |
|---|---|---|---|---|
| 5-Year | 25-30 | 50%-65% | 160 - 200 | 5.26% - 5.66% |
| 5-Year | 25-30 | 60%-75% | 160 - 220 | 5.26% - 5.86% |
| 10-Year | 25-30 | 50%-65% | 150 - 190 | 5.58% - 5.98% |
| 10-Year | 25-30 | 60%-75% | 160 - 220 | 5.68% - 6.28% |
| 15-Year | Fully Amortizing | 60%-75% | 160 - 220 | 5.97% - 6.57% |
CMBS SPREADS/RATES
Learn More| Term | Amortization | LTV | Spread (bps) | Rate |
|---|---|---|---|---|
| 5-Year | 30 | 65-75% | 250 - 300 | 6.16% - 6.66% |
| 10-Year | 30 | 65-75% | 225 - 275 | 6.33% - 6.83% |
| 5-Year | 30 | 65-75% | 250 - 300 | 6.16% - 6.66% |
| 10-Year | 30 | 65-75% | 225 - 275 | 6.33% - 6.83% |
* Rates are general in nature and are for informational use only. Rates are subject to change at any time and the information provided is not a commitment to lend. For specific quotes based on your property, contact a local Northmarq office.
** Rate buy downs available on deal by deal basis.
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