Current Market Rates
This page provides current benchmark rates are updated automatically throughout the day using data published by the Federal Reserve Economic Data (FRED) platform maintained by the Federal Reserve Bank of St. Louis.
Note: Individual series may update on different publication schedules. Rates do not update on weekends or federal holidays.
| Rate | Current | As Of |
|---|---|---|
| 2-Year Treasury | 4.08% | May 21, 2026 |
| 3-Year Treasury | 4.13% | May 21, 2026 |
| 5-Year Treasury | 4.25% | May 21, 2026 |
| 10-Year Treasury | 4.57% | May 21, 2026 |
| 30-Year Treasury | 5.10% | May 21, 2026 |
| Fed Funds Rate | 3.62% | May 21, 2026 |
| Prime Rate | 6.75% | May 08, 2026 |
| SOFR | 3.51% | May 21, 2026 |
| SOFR Averages (Compounded, Backward-Looking) | ||
| 30-Day Avg. SOFR | 3.61% | May 22, 2026 |
| 90-Day Avg. SOFR | 3.65% | May 22, 2026 |
| 180-Day Avg. SOFR | 3.72% | May 22, 2026 |
Source: Federal Reserve Economic Data (FRED), Federal Reserve Bank of St. Louis.
What These Market Rates Mean
2-Year Treasury
The 2-Year Treasury yield reflects near-term interest rate expectations and is closely tied to Federal Reserve policy direction. In commercial lending, it serves as a reference point for shorter-duration financing structures, including bridge loans, working capital facilities, and floating-rate products where lenders price risk against short-term rate movements.
3-Year Treasury
The 3-Year Treasury yield reflects intermediate-term interest rate expectations and is a useful reference point along the Treasury yield curve. In commercial and business lending, it is commonly used in pricing SBA loans and equipment financing, which frequently carry 3- to 5-year terms, making it a relevant benchmark for borrowers and lenders evaluating intermediate-duration financing.
5-Year Treasury
The 5-Year Treasury yield is a widely used benchmark in intermediate-term commercial financing. It commonly serves as a pricing reference for 5-year fixed-rate commercial real estate loans, agency multifamily products, and equipment financing structures, making it one of the more directly applicable Treasury benchmarks for borrowers evaluating fixed-rate debt options.
10-Year Treasury
The 10-Year Treasury yield is one of the most widely referenced benchmarks in lending and capital markets. It is a primary pricing reference for long-term commercial real estate loans, permanent financing, and CMBS products, and is closely watched by investors, lenders, and borrowers as a broad indicator of long-term borrowing costs and capital market conditions.
30-Year Treasury
The 30-Year Treasury yield reflects long-term expectations for inflation, economic growth, and interest rates. It is a key reference in long-duration financing markets, including long-term permanent CRE financing and agency-backed multifamily loans, and is closely monitored by institutional lenders and capital markets participants as a broad indicator of long-term economic conditions.
Fed Funds Rate
The Federal Funds Rate is the interest rate at which banks lend reserve balances to each other overnight. It is the Federal Reserve’s primary monetary policy tool and serves as the upstream driver of most variable-rate lending products, directly influencing the Prime Rate, SOFR, and the broader cost of capital across commercial real estate financing, business lending, and credit markets.
Prime Rate
The Prime Rate is the benchmark rate banks use to price many business loans, lines of credit, and variable-rate financing products. It moves in direct response to Federal Reserve policy changes and serves as the floating rate index for a wide range of commercial lending products, including working capital facilities, asset-based lending, invoice factoring lines, and certain SBA loan structures.
SOFR
SOFR, or the Secured Overnight Financing Rate, is a benchmark interest rate based on overnight U.S. Treasury repurchase transactions. It has largely replaced LIBOR as the standard floating rate index in commercial and institutional financing markets, and is widely used in floating-rate commercial real estate loans, bridge financing, and construction lending.
The rates below reflect compounded averages of historical overnight SOFR over rolling 30-, 90-, and 180-day periods, providing a backward-looking, smoothed view of rate movements across different time horizons.
30-Day Average SOFR
The 30-Day Average SOFR is the compounded average of the overnight SOFR over a rolling 30-calendar-day period. It is commonly used as the floating rate index in short-term bridge loans, construction financing, and revolving credit facilities, where lenders and borrowers prefer a smoothed rate that reduces the impact of single-day rate fluctuations.
90-Day Average SOFR
The 90-Day Average SOFR is the compounded average of the overnight SOFR over a rolling 90-calendar-day period. It is frequently referenced in commercial real estate credit facilities and business lending agreements where a longer smoothing period better reflects prevailing rate conditions, and is commonly used in floating-rate loan structures that reset on a quarterly basis.
180-Day Average SOFR
The 180-Day Average SOFR is the compounded average of the overnight SOFR over a rolling 180-calendar-day period. It reflects a longer-term view of prevailing rate conditions and is used in floating-rate financing structures where a more stable, extended averaging period is preferred, including certain commercial real estate loans and specialty finance facilities.