Commercial Mortgage Rate Spreads

Commercial mortgage rates: Spreads stay flat in February

The benchmark rates for fixed-term mortgages were in the range of 4.2-4.3% as of mid-March, according to data from Cushman & Wakefield, and the one-month term SOFR has remained flat over the past month.

Commercial mortgage rates: Spreads hold steady despite December rate cut

“The likelihood of significantly lower mortgage rates this year has decreased as rate cuts by the Fed are less likely,” says orthmarq Capital’s Ernie DesRocher.

Commercial mortgage rates: Spreads were flat through October, but rate cuts drive down costs

Five- and 10-year Treasuries dropped by 4 and 7 basis points, respectively, in October, according to data from Cushman & Wakefield.

Commercial mortgage rates: Spreads tighten amid rise in origination activity

Five-year Treasury yields declined by 6 basis points during August and September, while SOFR, the benchmark rate for floating-rate loans, was down 7 basis points in August.

Commercial mortgage rates: Spreads snap back, but remain wider than pre-tariff levels

The five- and 10-year Treasury yields declined by 9 and 10 basis points, respectively, according to data from Cushman & Wakefield.

Commercial mortgage rates: Spreads widen modestly amid volatility

Commercial mortgage rate spread analysis for March and April 2025.

Commercial mortgage rates: Spreads tighten, but volatility rattles lenders

Commercial mortgage rate spread analysis for January and February 2025.

Commercial mortgage rate spreads: Lenders lower expectations for swift future rate cuts

The five-year and 10-year US Treasuries rose 35bps and 32bps, respectively, in December, while the Secured Overnight Financing Rate was down around 20bps.

Commercial mortgage rate spreads: Lenders see stable near-term spread outlook

The Federal Reserve cut rates by 50 basis points in September and another 25 basis points in November, for a target rate of 4.75-5%.

Commercial mortgage rate spreads: Lenders, borrowers seek stability after September rate cut

The Fed’s recent rate cut is not expected to significantly move the needle for commercial real estate lenders and borrowers, but provides and indicator of stability.