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Do we see any movement in commercial loan rates soon?
Posted on 1/14/25 at 9:12 am
Posted on 1/14/25 at 9:12 am
I am set to redo a loan I got on a group of rent houses back in 2020 and I'm wondering if there is anything on the horizon that will move the rates any? I haven't kept up so I'm not sure if there are any planned rate cuts soon, I am going to redo the loan in April. It was a 5y amortized over 20y at 4.25%.
3
Posted on 1/14/25 at 9:22 am to NOLAGT
Futures markets isnt pricing in a higher probability of a rate cut until September , as it stands now
LINK
LINK
quote:
What is the likelihood that the Fed will change the Federal target rate at upcoming FOMC meetings, according to interest rate traders? Use CME FedWatch to track the probabilities of changes to the Fed rate, as implied by 30-Day Fed Funds futures prices.
MEDIA: Please attribute rate probabilities used in your reporting to “CME FedWatch.”
Posted on 1/14/25 at 9:38 am to NOLAGT
Short answer is that I would not expect to rates to come down on many types of loans for a while
Posted on 1/14/25 at 9:53 am to Penn
That's what I was I thought but I wanted to ask the MB
Posted on 1/14/25 at 10:45 am to NOLAGT
quote:What quotes are you starting to see now?
Do we see any movement in commercial loan rates soon?
NOLAGT
I am set to redo a loan I got on a group of rent houses back in 2020 and I'm wondering if there is anything on the horizon that will move the rates any? I haven't kept up so I'm not sure if there are any planned rate cuts soon, I am going to redo the loan in April. It was a 5y amortized over 20y at 4.25%.
Credit spreads are still pretty tight despite the risk free rates being higher than in 2020. Still, it's hard for me to see much movement down. What types of lenders are you looking at?
Posted on 1/14/25 at 12:10 pm to Big Scrub TX
quote:
What quotes are you starting to see now?
I have only seen a number from the lender that has the lone now. I would have to look again but I think it was 7.25? I am about to start shopping around.
This post was edited on 1/14/25 at 12:11 pm
Posted on 1/14/25 at 1:11 pm to NOLAGT
I am a commercial banker. I would expect rates for that kinda loan in the 7.25 or higher range. The prime rate is 7.50% today.
Long term rates are higher now.
I would refinance the loans and redo your amortization back to 20 years. It should keep your payment close enough.
You will most likely can finance the refi fees into the loan as well.
Long term rates are higher now.
I would refinance the loans and redo your amortization back to 20 years. It should keep your payment close enough.
You will most likely can finance the refi fees into the loan as well.
Posted on 1/14/25 at 4:49 pm to soupboy10
quote:
I am a commercial banker. I would expect rates for that kinda loan in the 7.25 or higher range. The prime rate is 7.50% today.
Long term rates are higher now.
I would refinance the loans and redo your amortization back to 20 years. It should keep your payment close enough.
You will most likely can finance the refi fees into the loan as well.
Yea the number I got had a discount to refi with the same lender...probably the route I will take to keep it easy since the rate is probably going to be close anyplace I go at this point. I just wanted to double check to make sure something wasn't coming.
Posted on 1/15/25 at 9:57 am to soupboy10
quote:
soupboy10
I don't know all the ins and outs of the commercial loan game but are there any other options other than a 5y 20amort type loan out there for around 500k? Talking with the current lender they have a discount but then they charge more for making it over 20y vs 15y that washes the discount so it would be 7.75. I know I had a great rate the first time but its a little annoying for my note to stay the same after paying some principal over 5 years and putting down an extra 40k on the principle. I was hopeful it would at least go down some
This post was edited on 1/15/25 at 10:19 am
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