What's a good quick reference site to see commercial loan rates?

Question

What are some good quick reference websites to check commercial loan rates for an apartment building?  I'm looking at different buildings and don't want to keep calling my local bank contact at 1st State Bank for numbers.  And waiting for him to call me back.

What about: crefcoa.com/apartment-loan-main.htm

or

http://www.northmarq.com/multi-family-rates/

Do you guys have any secrets on how to find a quick, current, accurate interest rate, amort period, term?  Is there an online calculator to find these numbers quickly?

I struggle with finding accurate current rates when running numbers on a building that I may be interested in. Some sites give partial info, incomplete, or confusing numbers.

Todd Moriarty · Answer

So, how do you know at any given time, how many bps to add to the 10yr treasury.   Back in April I was told 200bp over the 10 yr.  Is it 225bps now?

Todd Moriarty · Answer

Thanks for the info.  I need to familiarize myself with this terminology (i.e. yield spreads, "curve") since I'm only familiar with residential loans.

Account Closed · Answer

Todd

Try following commercial mortgage yield spreads as a way to gauge mortgage rates. The data is published and is more readily available.  Yield spread do change but are a bit more stable.  The terminology you will hear is "yield curve". Movement in the yield curve are directly related to yield spreads.

Alternatively, you can call several of your banks, and establish what their yield spread is relative to the comparable t-bill. as the t-bill changes you can gauge what that particular bank is likely to charge.

Comparing the national average spreads to your local lender will give you a good idea if your getting a good deal from your bank. For example if a 10yr mortgage yield spread is 225bp over the 10 yr t-bill and your bank is quoting 300bp, it might be that they are over charging. Keep in mind that for apples to apple comparison, your mortgage credit profile may negatively impact your quoted rates.