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Today’s Commercial Mortgage Rates

Updated June 24, 2024

Multifamily 5 Year 7 Year 10 Year
BANK 6.92% .11 6.87% .12 6.78% .18
AGENCY 5.81% .16 5.78% .15 5.70% .15
AGENCY SBL 6.34% .25 6.34% .25 6.24% .25
CMBS 7.02% .45 6.97% .45 6.67% .45
Commercial 5 Year 7 Year 10 Year
BANK 6.92% .00 6.87% .00 6.78% .00
CMBS 7.17% .45 7.12% .45 6.82% .45

Represents change in the last 30 days

*View our disclosures

About our Mortgage Rate Table: Shown Rates are calculated as an average of participating lenders available rates within our network. The rates are provided for comparison purposes only. Actual rates are dependent on property and sponsor.

Learn About Commercial Mortgage Rates

Get quick answers to some common mortgage rate questions here.

How are today’s rates calculated?
Current rates are calculated using a spread over the major index, which is updated daily. The rates on the personalized quote use a detailed model that includes the adjustment to the spread for that loan's particular loan to value, property type, and location.
What do I need to provide to get a personalized quote?
To get a personalized quote for your project, submit your contact details via the “get a quote” form and a loan consultant will contact you. Be prepared to discuss property cash flow, sponsor financials and experience. Some of the forms that that could speed up the process are T-12 for the property, SREO form and PFS statement.
How often do mortgage rates change?
Rates are updated daily based on the index for specific capital sources. Some banks have an internal rate sheet that can be updated less frequently such as weekly or monthly.
When Can I Lock in My Rate?
Generally most lenders don’t allow you to lock at term sheet in commercial real estate, but there are some that do, and that’s one reason to use CommLoan’s platform to access the most extensive lending coverage in the US.
  • The rate can be locked with most lenders once the lender is engaged and the deposit for the 3rd party reports has been provided to the lender.

Learn About Different Types of Mortgages

Learning more about what kind of mortgage you might want will help you know what rates to watch.

What should I know about Bank and Credit Union Loans?
In today’s current market, credit tightening cycle, and fed rate hikes, bank and credit union loans may offer more attractive terms on $1-10 million loans currently vs debt funds, CMBS, and agency debt.
When should I consider a CMBS loan as an option?
For assets that have long lease terms or an exit strategy that is a long-term play with for legacy properties and no concerns about having an event such as refinancing or selling anytime soon, CMBS is certainly an attractive option if you are looking for non-recourse, highest cash flow (30 years amortization), and longer fixed rate periods.
Are Agency loans the best route for Multifamily?
Agency debt, also known as Fannie Mae or Freddie Mac, has been attractive for many years and seen as the go-to for seasoned investors that prefer non-recourse, longer fixed rate periods, and lower debt service, but with current trends, the rates have climbed, which has made bank and credit union more appealing.

Get a Personalized Loan Quote