Indicative rates
Market rates
Rates as of 4/20/2026
| Fannie Mae DUS conventional - fixed rate | |||
|---|---|---|---|
| Term | YM | Spread1 | Rate |
| Tier 2 (1.25X/80%) | |||
| 5 Years | 4.5 | 1.40% - 1.80% | 5.26% - 5.66% |
| 7 Years | 6.5 | 1.23% - 1.63% | 5.28% - 5.68% |
| 10 Years | 9.5 | 1.11% - 1.51% | 5.37% - 5.77% |
| 12 Years | 11.5 | 1.25% - 1.65% | 5.51% - 5.91% |
| 15 Years | 14.5 | 1.38% - 1.78% | 5.64% - 6.04% |
| Tier 3 (1.35X/65%) | |||
| 5 Years | 4.5 | 1.05% - 1.45% | 4.91% - 5.31% |
| 7 Years | 6.5 | 0.98% - 1.38% | 5.03% - 5.43% |
| 10 Years | 9.5 | 0.91% - 1.31% | 5.17% - 5.57% |
| 12 Years | 11.5 | 1.05% - 1.45% | 5.31% - 5.71% |
| 15 Years | 14.5 | 1.18% - 1.58% | 5.44% - 5.84% |
| Tier 4 (1.55X/55%) | |||
| 5 Years | 4.5 | 0.95% - 1.25% | 4.81% - 5.11% |
| 7 Years | 6.5 | 0.88% - 1.18% | 4.93% - 5.23% |
| 10 Years | 9.5 | 0.81% - 1.11% | 5.07% - 5.37% |
| 12 Years | 11.5 | 0.95% - 1.25% | 5.21% - 5.51% |
| 15 Years | 14.5 | 1.08% - 1.38% | 5.34% - 5.64% |
1Spreads above assume a loan amount of $15.0 + million, 5-10 day closing/45 day security delivery, 30 year amortization, Actual/360.
For interest-only options along with other DUS ARM Products, Small Loans (under $6 million), Seniors, Students, MHC, and Supplementals, please call your BWE Representative.
| Freddie Mac conventional - fixed rate | |||
|---|---|---|---|
| Term | YM | Spread2 | Rate |
| 1.25X/65% | |||
| 5 Years | 4.5 | 1.42% - 1.57% | 5.28% - 5.43% |
| 7 Years | 6.5 | 1.35% - 1.50% | 5.40% - 5.55% |
| 10 Years | 9.5 | 1.17% - 1.32% | 5.43% - 5.58% |
| 12 Years | 11.5 | 1.27% - 1.42% | 5.53% - 5.68% |
| 15 Years | 14.5 | 1.32% - 1.47% | 5.58% - 5.73% |
| 1.30X/60% | |||
| 5 Years | 4.5 | 1.37% - 1.52% | 5.23% - 5.38% |
| 7 Years | 6.5 | 1.30% - 1.45% | 5.35% - 5.50% |
| 10 Years | 9.5 | 1.12% - 1.27% | 5.38% - 5.53% |
| 12 Years | 11.5 | 1.22% - 1.37% | 5.48% - 5.63% |
| 15 Years | 14.5 | 1.27% - 1.42% | 5.53% - 5.68% |
| 1.35X/55% | |||
| 5 Years | 4.5 | 1.27% - 1.42% | 5.13% - 5.28% |
| 7 Years | 6.5 | 1.20% - 1.35% | 5.25% - 5.40% |
| 10 Years | 9.5 | 1.02% - 1.17% | 5.28% - 5.43% |
| 12 Years | 11.5 | 1.12% - 1.27% | 5.38% - 5.53% |
| 15 Years | 14.5 | 1.17% - 1.32% | 5.43% - 5.58% |
2The Freddie Mac rates above are provided by Bellwether Enterprise and are indicative levels only – subject to change at anytime without notice. Freddie Mac prices each loan individually based on its unique merits, does not publish pricing and has not pre-approved any of the rates listed above. Freddie Mac spreads assume a loan size of $10 million, standard funding, no interest-only, actual/360, no adders and no additional features. For Freddie Mac Floating Rate products, please call your BWE Rep.
| GNMA - Market rate | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Execution | Forward | Term | Amortization | DSCR | LTC/LTV | Index | All-in rate | MIP | |
| 223(f) | Immediate | 35 Years | 35 Years | 1.15x | 87% LTV | 10Y UST | 5.32% - 5.63% | 0.25% | **$1.5MM+ |
| 221(d)(4) | Const to Perm | Const + 40 Years | 40 Years | 1.15x | 87% LTC | 10Y UST | 5.87% - 6.18% | 0.25% | **$2.5MM+ |
*Spread indications assume a loan size of $10,000,000.
**Interest only and additional amortization available for select sponsors and strong markets
| Life company | CMBS | ||||||
|---|---|---|---|---|---|---|---|
| Multifamily/industrial | Office/retail | Hospitality | Multifamily/industrial | Office/retail | Hospitality | ||
| Loan Size | $1 - $150M | $1M+ | $5M + | $1 - $150M | $1M+ | $4M + | |
| LTV | 50% to 75% | 50% to 75% | 50% to 60% | 65% to 75% | 65% to 75% | 60% to 70% | |
| Minimum DSCR | 1.25x | 1.25x | 1.50x | 1.25x | 1.25x | 1.35x | |
| Available Terms | 5, 7, 10 & 25 years | 5, 7, 10 & 25 years | 5, 7, 10 & 25 years | 10 years | 10 years | 10 years | |
| Amort | Up to 30 years | Up to 30 years | Up to 30 years | 30 years | up to 30 years | 30 years | |
| Interest Only | Lower Leverage | Lower Leverage | Unlikley | Yes | Yes | Yes | |
| Spread | |||||||
| Lower leverage | 130 - 200 bps | 165 - 245 bps | 225 - 300 bps | 185 - 250 bps | 225 - 310 bps | 325 - 575 bps | |
| Higher leverage | 170 - 250 bps | 225 - 300 bps | 275 - 350 bps | 250 - 375 bps | 275 - 450 bps | N/A | |
| Index | 10 year Treasury | 10 year Treasury | 10 year Treasury | 10-Year Treasury | 10-Year Treasury | 10-Year Treasury | |
| 10-year rate | 5.56 - 6.26% | 5.91 - 6.71% | 6.51 - 7.26% | 6.11 - 6.76% | 6.51 - 7.36% | 7.51 - 10.01% | |
| Weekly rates | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Index | 10-year UST | 10-year SOFR swap | 7-year UST | 7-year SOFR swap | 5-year UST | 5-year SOFR swap | 30-day SOFR Avg | Term SOFR | |
| Current | 4.264% | 3.805% | 4.052% | 3.607% | 3.864% | 3.460% | 3.644% | 3.657% | |
| Previous | 4.234% | 3.812% | 4.018% | 3.649% | 3.827% | 3.537% | 3.641% | 3.661% | |
| Change (bps) | 0.030% | -0.007% | 0.034% | -0.042% | 0.037% | -0.076% | 0.003% | -0.004% | |
Opinions, estimates, forecasts and all other information contained in this document are those of Bellwether Enterprise Real Estate Capital, LLC (“Bellwether”) and should not be construed as indicating Bellwether’s business prospects or expected results. Although Bellwether attempts to provide reliable, useful information, it does not guarantee that the information or other content in this document is accurate, current, or suitable for any particular purpose. All content is provided on an “as is” basis, with no warranties of any kind whatsoever and is subject to change at any time without notice. Information in this document may not be used without permission from Bellwether. This document is not intended to be an offer to buy or sell or a solicitation of an offer to buy or sell securities, if any, referred to herein.