Here is your apartment loan update. If you are considering a small balance apartment loan, please consider what is going on in the market right now.
US Treasuries rallied moving the 10 year yield below responded with a rally, getting the 10yr yield below 2.90% for the first time in three weeks. The treasury market has remained quiet even as Turkey’s economic crisis deepened. Global investors may seek safety in the US Bond market as the crisis worsens.
Fannie Mae Small Apartment Balance Loan Rate Update
The Fannie Mae Small Balance Loan program has seen interest rates remain steady and even dropping 7 to 10 basis point depending on the apartment loan product. Most of the drop can be attributed to the drop in the 10 Year Treasury.
Please Remember that Fannie Mae offers discounts to Apartments within a 5-50 unit range and as a high affordability component to the rents. These multifamily assets are eligible for a 40 basis point pricing discount.
Freddie Mac Apartment Loan Program as seen pricing hold for another week in once for all products, in all markets. This is good news considering that Freddie Mac has significantly dropped their rates over the past 3 weeks.
If you own or want to own an Apartment please consider both options when determining financing. We can help you tailor a multifamily loan product to your specific needs. If you want to know more, press apply now.