Rates & Spreads
Real-Time Insights Backed by Trusted Capital Expertise
Northmarq leverages strong, long-term relationships with all sources of capital – including the GSEs, FHA/HUD, life companies, bridge lenders, banks and CMBS lenders – to create innovative financing solutions.
Real Time Rates
U.S. Treasuries
Hourly Treasuries
Libor Swap
Secured Overnight Financing Rate
Current Index Rates
CURRENT INDEX RATES
| Term | Rate |
|---|---|
| 5-Year Treasury | 3.94% |
| 7-Year Treasury | 4.12% |
| 10-Year Treasury | 4.30% |
| 30-Day Avg. SOFR | 4.35% |
* 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 | 115 - 155 | 5.45% - 5.85% |
| 10-Year | 55% | 1.55x | 105 - 135 | 5.35% - 5.65% |
| 10-Year | 65% | 1.35x | 115 - 155 | 5.45% - 5.85% |
| 10-Year | 80% | 1.25x | 135 - 175 | 5.65% - 6.05% |
| 7-Year | 55% | 1.55x | 110 - 140 | 5.22% - 5.52% |
| 7-Year | 65% | 1.35x | 120 - 160 | 5.32% - 5.72% |
| 7-Year | 80% | 1.25x | 145 - 185 | 5.57% - 5.97% |
| 5-Year | 55% | 1.55x | 120 - 150 | 5.14% - 5.44% |
| 5-Year | 65% | 1.35x | 130 - 170 | 5.42% - 5.82% |
| 5-Year | 75% | 1.25x | 165 - 205 | 5.77% - 6.17% |
| 10 SARM | 75% | 1.00x | 225 - 255 | 6.60% - 6.90% |
FREDDIE MAC CME - FIXED RATE
| Term | LTV | DSCR | Spread (bps) | Rate |
|---|---|---|---|---|
| 15-Year | 80% | 1.25x | 135 - 155 | 5.65% - 5.85% |
| 10-Year | 55% | 1.55x | 100 - 105 | 5.30% - 5.35% |
| 10-Year | 65% | 1.35x | 110 - 125 | 5.40% - 5.55% |
| 10-Year | 80% | 1.25x | 120 - 140 | 5.50% - 5.70% |
| 7-Year | 55% | 1.55x | 105 - 115 | 5.17% - 5.27% |
| 7-Year | 65% | 1.35x | 120 - 140 | 5.32% - 5.52% |
| 7-Year | 80% | 1.25x | 140 - 160 | 5.52% - 5.72% |
| 5-Year | 75% | 1.25x | 145 - 165 | 5.39% - 5.59% |
| 10 ARM | 80% | 1.25x | 210 - 235 | 6.45% - 6.70% |
223(f) Refinancing (FHA)
| Term | LTV | DSCR | Amortization | Rates* |
|---|---|---|---|---|
| 35-Year | 87% | 1.15x | 35 | 5.75 - 6.25% |
221(d)4 Construction / Permanent (FHA)
| Term | LTV | DSCR | Amortization | Rates* |
|---|---|---|---|---|
| 40-Year | 87% | 1.15x | 40 | 6.20 - 6.70% |
LIFE CO - MULTIFAMILY
| Term | Amortization | LTV | Spread (bps) | Rate |
|---|---|---|---|---|
| 5-Year | 25-30 | 50%-65% | 145 - 205 | 5.39% - 5.99% |
| 5-Year | 25-30 | 60%-75% | 155 - 215 | 5.49% - 6.09% |
| 10-Year | 25-30 | 50%-65% | 130 - 175 | 5.60% - 6.05% |
| 10-Year | 25-30 | 60%-75% | 155 - 215 | 5.85% - 6.45% |
| 15-Year | Fully Amortizing | 60%-75% | 155 - 215 | 6.09% - 6.69% |
CMBS SPREADS/RATES
| Term | Amortization | LTV | Spread (bps) | Rate |
|---|---|---|---|---|
| 5-Year | 30 | 65-75% | 250 - 300 | 6.44% - 6.94% |
| 10-Year | 30 | 65-75% | 225 - 275 | 6.55% - 7.05% |
| 5-Year | 30 | 65-75% | 250 - 300 | 6.44% - 6.94% |
| 10-Year | 30 | 65-75% | 225 - 275 | 6.55% - 7.05% |
* 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 | 5.35% - 5.65% |
| 10-Year | 30 | 10Y UST | 80% | 1.20x | 5.55% - 5.85% |
| 7-Year | 30 | 7Y UST | 60% | 1.50x | 5.37% - 5.67% |
| 7-Year | 30 | 7Y UST | 80% | 1.20x | 5.52% - 5.82% |
| 5-Year | 30 | 5Y UST | 60% | 1.50x | 5.44% - 5.74% |
| 5-Year | 30 | 5Y UST | 80% | 1.20x | 5.64% - 5.94% |
SPECIAL PUBLIC PURPOSE ("SPP")** - FIXED RATE
| Term | Amort | Index | LTV | DSCR | All-In Rate |
|---|---|---|---|---|---|
| 10-Year | 30 | 10Y UST | 55% | 1.55x | 5.15% - 5.55% |
| 10-Year | 30 | 10Y UST | 80% | 1.25x | 5.55% - 5.95% |
| 7-Year | 30 | 7Y UST | 55% | 1.55x | 5.02% - 5.42% |
| 7-Year | 30 | 7Y UST | 80% | 1.25x | 5.52% - 5.92% |
| 5-Year | 30 | 5Y UST | 55% | 1.55x | 4.89% - 5.29% |
| 5-Year | 30 | 5Y UST | 80% | 1.25x | 5.64% - 6.04% |
PRESERVATION
| Product | Term | Amort | Index | LTV | DSCR | All-In Rate |
|---|---|---|---|---|---|---|
| Fixed | 5-Year | 30 | 5Y UST | 75% | 1.25x | 5.34% - 5.49% |
| Fixed | 7-Year | 30 | 7Y UST | 80% | 1.25x | 5.52% - 5.67% |
| Fixed | 10-Year | 30 | 10Y UST | 80% | 1.25x | 5.50% - 5.65% |
| Capped ARM | 10-Year | 30 | 30d Avg SOFR | 80% | 1.25x | 6.25% - 6.45% |
IMMEDIATE - MOD REHAB
| Product | Term | Amort | Index | LTV | DSCR | All-In Rate |
|---|---|---|---|---|---|---|
| 9% LIHTC | 15-Year | 35 | 10Y UST | 90% | 1.15x | 6.10% - 6.25% |
| 4% Tax-Exempt Loan | 15-Year | 35 | 10Y UST | 90% | 1.15x | 5.65% - 5.80% |
FORWARD COMMITMENT
| Product | Term | Amort | Index | LTV | DSCR | All-In Rate |
|---|---|---|---|---|---|---|
| 9% LIHTC | 15-Year | 35 | 10Y UST | 90% | 1.15x | 6.40% - 6.55% |
| 4% Tax-Exempt Loan (30-Month) | 15-Year | 35 | 10Y UST | 90% | 1.15x | 6.05% - 6.20% |
| Non-LIHTC (30-Month) | 15-Year | 30 | 10Y UST | 80% | 1.25x | 6.35% - 6.50% |
REFINANCE/ACQUISITION | 223(f) (FHA)
| Product | Term | Amort | LTV | DSCR | Rate Before MIP |
|---|---|---|---|---|---|
| Market Rate | 35-Year | 35 | 87% | 1.15x | 5.65%-6.15% |
| LIHTC Affordable* | 35-Year | 35 | 90% | 1.11x | 5.65%-6.15% |
| Project Based Affordable** | 35-Year | 35 | 90% | 1.11x | 5.65%-6.15% |
NEW CONSTRUCTION/SUB REHAB | 221(d)(4) (FHA)
| Product | Term | Amort | LTV | DSCR | Rate Before MIP |
|---|---|---|---|---|---|
| Market Rate | 40-Year | 40 | 87% | 1.15x | 6.10%-6.60% |
| LIHTC Affordable* | 40-Year | 40 | 90% | 1.11x | 6.10%-6.60% |
* 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
| Term | Amortization | LTV | Spread (bps) | Rate |
|---|---|---|---|---|
| 5-Year | 25-30 | 50%-65% | 150 - 210 | 5.44% - 6.04% |
| 5-Year | 25-30 | 60%-75% | 160 - 220 | 5.54% - 6.14% |
| 10-Year | 25-30 | 50%-65% | 150 - 190 | 5.80% - 6.20% |
| 10-Year | 25-30 | 60%-75% | 160 - 220 | 5.90% - 6.50% |
| 15-Year | Fully Amortizing | 60%-75% | 160 - 220 | 6.14% - 6.74% |
CMBS SPREADS/RATES
| Term | Amortization | LTV | Spread (bps) | Rate |
|---|---|---|---|---|
| 5-Year | 30 | 65-75% | 250 - 300 | 6.44% - 6.94% |
| 10-Year | 30 | 65-75% | 225 - 275 | 6.55% - 7.05% |
| 5-Year | 30 | 65-75% | 250 - 300 | 6.44% - 6.94% |
| 10-Year | 30 | 65-75% | 225 - 275 | 6.55% - 7.05% |
* 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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