What Are Current DSCR Loan Rates? August 2024 Update via Easy Street Capital!

[Robin Simon]

August 2024 Interest Rates Update: Mortgage Rates PLUMMET!

July - typically a sleepy summer month for the bond markets – was nevertheless, full of ups and downs in interest rates again. The US Five Year Treasury Yield – the key benchmark for Non-QM and DSCR Loans (or the go-to loans for rental properties), dropped from a close of 4.33% as of June 28, 2024 (the last trading day of June) to 3.97% as of July 31st, 2024 – breaking the 4% barrier for the first time since February! This drop of 36 basis points is big – an almost 8% drop, and mortgage rates for investment properties, particularly for DSCR Loans followed suit!

In response, ‪Easy Street Capital issued a new rate sheet for its best in class DSCR Loan program on the first of August – a mid week drop on a Thursday – improving our rates yet again!

For our Signature Series DSCR Loan Program – premiums were improved by a whopping 1.25% for long-term rentals and 0.625% for short term rentals versus our July 1, 2024 pricing! This generally means a drop of half a percent in rate or more – so the same deal that might have been at a 7.5% rate on July 1st is now 7% or below just one month later!

Our Streamline and Standard Series rates dropped precipitously as well – please make sure to contact your Easy Street Rep (or if you are new to Easy Street – fill out this Contact Us form to get connected!) for further details – remember, we have multiple loan programs for the benefit of our borrowers – if you qualify for multiple – you get the lowest rate program guaranteed!

For Hard Money – our rates are still super competitive, in the single digits for top borrowers even up to 90% Leverage.

Access Full Article Update Here ➡️➡️➡️https://bit.ly/4dnTSuq

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The information provided on EasyStreetCap.com and in any accompanying Easy Street Capital video is intended for general informational purposes only and is not intended to serve as professional financial advice in the real estate investment industry