Current Market Rates

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 fixed-rate financing structures, including bridge loans and working capital facilities, and is closely watched by lenders pricing risk against near-term rate movements.

3-Year Treasury
The 3-Year Treasury yield reflects intermediate-term interest rate expectations. In commercial and business lending, it is relevant to certain SBA loans and equipment financing structures that frequently carry 3- to 5-year terms, making it a practical pricing reference for both 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 most transaction-relevant Treasury benchmarks for borrowers evaluating fixed-rate debt options.

7-Year Treasury
The 7-Year Treasury yield is a key benchmark in mid-term commercial real estate and institutional financing markets. It serves as a primary pricing reference for 7-year fixed-rate CMBS loans and permanent financing structures, and is particularly relevant to CRE borrowers and lenders structuring conduit loans, where 7-year fixed-rate terms are among the most commonly executed in the market.

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 the broadest indicator of long-term borrowing costs in business capital and commercial real estate financing.

30-Year Treasury
The 30-Year Treasury yield reflects expectations for inflation, economic growth, and interest rates over the longest time horizon on the standard yield curve. It is a key pricing reference for permanent CRE financing and agency-backed multifamily loans, and is closely monitored by institutional lenders and capital markets participants as a broad indicator of borrowing costs in long-duration business capital and commercial real estate financing markets.

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. Published by the Wall Street Journal based on a survey of the nation’s 10 largest banks, 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 commercial and industrial (C&I) lending, asset-based lending, working capital facilities, and certain SBA loan structures.

SOFR
SOFR, or the Secured Overnight Financing Rate, is a benchmark interest rate based on a broad measure of 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.