Rates

Commercial real estate loan rates today

Commercial loan rates are a benchmark, such as the 10-year Treasury yield, plus a spread that depends on the program and the deal. This page shows the benchmarks lenders use, updated each business day, and the range Corin assumes for HUD, SBA, agency, CMBS, bridge, construction and hard money loans.

Rates here are indicative and are not a quote or a commitment to lend. Get loan options for an advisor's read on your deal.

Live dataRates as of November 2, 2026

Benchmark rates

The indexes commercial loans are priced from.

Benchmark rates as of November 2, 2026
Benchmark	Latest	Daily change	Used for	Source
5-year Treasury	4.71%	down 7 bp	SBA bank first-lien loans and shorter fixed-rate bank debt	FRED DGS5Board of Governors of the Federal Reserve System (US)
10-year Treasury	4.94%	down 4 bp	HUD, agency, SBA 504 debenture and hotel CMBS pricing	FRED DGS10Board of Governors of the Federal Reserve System (US)
30-day average SOFR	3.91%	up 1 bp	Floating-rate bridge and construction loans	FRED SOFR30DAYAVGFederal Reserve Bank of New York
Bank prime rate	7.00%	unchanged	SBA 7(a) loans and other prime-based bank loans	FRED DPRIMEBoard of Governors of the Federal Reserve System (US)
Hard money, fix-and-flip and private bridge	9.50% to 12.50%	Fixed note rate set by the private lender, not tied to a benchmark	6–36 months, interest-only, plus 1–4 points

Indicative loan rates by program

Each range is the benchmark above plus the spread band Corin assumes for the program; hard money is priced at a fixed rate, so its range does not move with the benchmarks. They are planning estimates, not quotes, and lenders price each loan individually.

Indicative loan rates by program as of November 2, 2026
Program	Indicative range	Pricing basis	Note
HUD 232 / 223(f) senior housing	6.34% to 6.74%	10-year Treasury + 1.40 to 1.80 points	Note rate; excludes mortgage insurance premium
HUD multifamily (223(f), 221(d)(4))	6.24% to 6.64%	10-year Treasury + 1.30 to 1.70 points	Note rate; excludes mortgage insurance premium
Fannie Mae and Freddie Mac multifamily	6.39% to 6.79%	10-year Treasury + 1.45 to 1.85 points	Fixed rate, typical 10-year term
SBA 504 debenture	5.69% to 5.99%	10-year Treasury + 0.75 to 1.05 points	Before SBA and servicing fees
SBA 504 effective rate	6.74% to 7.19%	10-year Treasury + 1.80 to 2.25 points	Debenture rate plus ongoing fees
SBA 504 bank first lien	6.96% to 7.46%	5-year Treasury + 2.25 to 2.75 points	Fixed-period bank loan
SBA 7(a)	9.00% to 9.75%	Prime + 2.00 to 2.75 points	Variable, over Prime
Hotel CMBS	7.44% to 8.19%	10-year Treasury + 2.50 to 3.25 points	Conduit fixed rate
Private bridge	7.66% to 9.41%	30-day SOFR + 3.75 to 5.50 points	Floating over SOFR, interest-only
Bank construction loan	6.66% to 7.41%	30-day SOFR + 2.75 to 3.50 points	Floating over SOFR, interest-only during construction

Turn a rate into a payment with the DSCR calculator, or size a full structure with the 60-second loan sizer.

Benchmark data: Board of Governors of the Federal Reserve System (US) and the Federal Reserve Bank of New York, retrieved from FRED, Federal Reserve Bank of St. Louis. This page is not endorsed or certified by the Federal Reserve Bank of St. Louis.

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Corin Commercial is a real estate broker, not a lender. Lenders make all credit decisions and fund loans as lender of record. Corin never holds, transfers, or disburses loan funds and does not service loans.

All rates, terms, and sizing are indicative estimates for discussion only, are not a commitment to lend, and are subject to lender underwriting, appraisal, credit approval, and program guidelines in effect at application. Corin Commercial arranges loans as a licensed California real estate broker and is not the lender.

Timelines are typical ranges after a complete file and are subject to lender approval, appraisal, title, and diligence. They are not guaranteed.

Corin Commercial, Inc. · Real estate broker, California Department of Real Estate · CA DRE Corp. License #01522444 · Designated Officer: Neeli Khanna

Benchmark rates

The indexes commercial loans are priced from.

Benchmark rates as of November 2, 2026
Benchmark	Latest	Daily change	Used for	Source
5-year Treasury	4.71%	down 7 bp	SBA bank first-lien loans and shorter fixed-rate bank debt	FRED DGS5Board of Governors of the Federal Reserve System (US)
10-year Treasury	4.94%	down 4 bp	HUD, agency, SBA 504 debenture and hotel CMBS pricing	FRED DGS10Board of Governors of the Federal Reserve System (US)
30-day average SOFR	3.91%	up 1 bp	Floating-rate bridge and construction loans	FRED SOFR30DAYAVGFederal Reserve Bank of New York
Bank prime rate	7.00%	unchanged	SBA 7(a) loans and other prime-based bank loans	FRED DPRIMEBoard of Governors of the Federal Reserve System (US)
Hard money, fix-and-flip and private bridge	9.50% to 12.50%	Fixed note rate set by the private lender, not tied to a benchmark	6–36 months, interest-only, plus 1–4 points

Indicative loan rates by program

Indicative loan rates by program as of November 2, 2026
Program	Indicative range	Pricing basis	Note
HUD 232 / 223(f) senior housing	6.34% to 6.74%	10-year Treasury + 1.40 to 1.80 points	Note rate; excludes mortgage insurance premium
HUD multifamily (223(f), 221(d)(4))	6.24% to 6.64%	10-year Treasury + 1.30 to 1.70 points	Note rate; excludes mortgage insurance premium
Fannie Mae and Freddie Mac multifamily	6.39% to 6.79%	10-year Treasury + 1.45 to 1.85 points	Fixed rate, typical 10-year term
SBA 504 debenture	5.69% to 5.99%	10-year Treasury + 0.75 to 1.05 points	Before SBA and servicing fees
SBA 504 effective rate	6.74% to 7.19%	10-year Treasury + 1.80 to 2.25 points	Debenture rate plus ongoing fees
SBA 504 bank first lien	6.96% to 7.46%	5-year Treasury + 2.25 to 2.75 points	Fixed-period bank loan
SBA 7(a)	9.00% to 9.75%	Prime + 2.00 to 2.75 points	Variable, over Prime
Hotel CMBS	7.44% to 8.19%	10-year Treasury + 2.50 to 3.25 points	Conduit fixed rate
Private bridge	7.66% to 9.41%	30-day SOFR + 3.75 to 5.50 points	Floating over SOFR, interest-only
Bank construction loan	6.66% to 7.41%	30-day SOFR + 2.75 to 3.50 points	Floating over SOFR, interest-only during construction

Turn a rate into a payment with the DSCR calculator, or size a full structure with the 60-second loan sizer.