Apartment Loan Data: Live Treasury and SOFR Rates

Short answer

Apartment loan rates are built from a market index plus a lender spread. Fixed-rate agency and CMBS loans are priced off the Treasury yield that matches the loan term, most often the 10-year. Floating-rate loans, including most bridge loans, are priced off SOFR. Bank loans may use Treasuries, SOFR or prime. The table on this page shows today's prints.

What drives apartment loan pricing

Almost every apartment loan rate has two parts: an index that moves with the market every day, and a spread the lender sets for the deal. The index is public and identical for every borrower. The spread reflects the program, leverage, property quality, sponsor and the lender's appetite. When you hear that rates moved, it is usually the index that moved.

Which index applies depends on the kind of loan:

Fixed-rate agency and CMBS loans are priced as a spread over the Treasury yield that matches the loan's term. A 10-year fixed loan prices off the 10-year Treasury, and shorter fixed terms off the 5-year or 7-year.
Floating-rate loans, including most bridge loans and agency floating-rate products, are priced as a margin over SOFR, the Secured Overnight Financing Rate. Many use the 30-day average of SOFR rather than the single overnight print, which smooths out day-to-day noise.
Bank and credit union loans vary. Fixed bank loans are often priced off Treasury or swap rates or the bank's own cost of funds. Floating bank loans may use SOFR or the prime rate.

The rate you lock is index plus spread on the lock date. Until you lock, your quote floats with the index.

Today's market rates

Today's index rates

Loading today's prints from the U.S. Treasury and the New York Fed…

The table is filled in your browser from this site's data feed. Nothing in it is typed by hand. Each figure carries the date of the data it reflects, along with the change from the prior print.

Where the data comes from

Row	Source	Used for
5-year, 7-year and 10-year Treasury	U.S. Department of the Treasury, daily par yield curve	Fixed-rate agency, CMBS, life company and many bank loans
SOFR (overnight)	Federal Reserve Bank of New York	Floating-rate loans and interest rate caps
30-day average SOFR	Federal Reserve Bank of New York	The index many floating-rate loans actually reset on
Prime rate	Federal Reserve H.15, bank prime loan rate	Some bank, construction and smaller balance loans

Treasury yields are official daily closes, published after the market day. SOFR is published by the New York Fed each business day for the prior business day. So on any given morning the table reflects the most recent published prints, not intraday trading. Lenders quoting a fixed rate during the day may reference live market levels that differ slightly. For how we source and check everything on this site, see how we verify.

How to read the table for your loan

Start with the index your loan will use. If you are pricing a 10-year fixed agency refinance, the 10-year Treasury is the number to watch. If you are on a bridge loan or considering a floating-rate loan, watch the 30-day average SOFR.

Then think in basis points, not rates. A basis point is one hundredth of a percentage point. Because the spread on a quote is fixed until you lock, a 25 basis point move in the index moves your rate by about 25 basis points, and that flows straight into loan size wherever the DSCR test binds.

How much size? Say a building has $600,000 of NOI and the lender requires 1.25x DSCR, so the most it can pay in annual debt service is $480,000. On 30-year amortization at a hypothetical 6.25% rate, that supports roughly $6,500,000 of loan. At a hypothetical 6.75%, about $6,170,000. A half-point move in the index cost about $330,000 of proceeds. Run your own NOI and rate moves in the DSCR sensitivity calculator.

Two more reading notes:

The curve shape matters. When the 5-year sits above or below the 10-year, a shorter or longer fixed term can price meaningfully differently even before spreads. Compare terms, not just lenders.
SOFR drives cap costs too. On a floating-rate loan, the price of the required interest rate cap rises with expected SOFR. The rate cap calculator prices one on the forward curve you enter.

For how these indexes turn into quoted refinance rates by loan type, see apartment refinance rates. For the trade-off between the two kinds of index, see fixed vs floating apartment loans.

More apartment loan data

Apartment loan maturities: when existing multifamily debt comes due, and what that means for refinancing.
API and MCP: query the same rate feed from your own spreadsheet, model or AI assistant.
Apartment refinance rates: how index and spread combine on each loan type.
SOFR and the end of LIBOR: background on the floating-rate index.

In this section

Loan MaturitiesMBA data: 13% of multifamily mortgage balances were set to mature in 2026, against 4% of agency balances. What it…

Frequently asked questions

Which Treasury rate do apartment loans follow?

Fixed-rate apartment loans are generally priced off the Treasury yield that matches the loan term. A 10-year fixed agency or CMBS loan follows the 10-year Treasury, while 5-year and 7-year fixed terms follow the 5-year and 7-year yields. The lender adds a spread to that yield to set your rate, and the rate is fixed once you lock.

What index do floating-rate apartment loans use?

Most floating-rate apartment loans, including bridge loans and agency floating-rate products, use SOFR, the Secured Overnight Financing Rate published by the Federal Reserve Bank of New York. Many reset on the 30-day average of SOFR rather than the overnight rate. Your rate each period is the index plus the margin in your loan documents, often with a rate cap limiting how high the index can go.

Why doesn't apartment.loans show a mortgage rate?

An apartment loan rate is a market index plus a spread that depends on the program, leverage, property and borrower. The index is public and is shown live on this page. The spread is set deal by deal, so any single published loan rate would be wrong for most buildings. The reliable way to get your rate is a quote on your property's numbers.

How often is the rate table updated?

The table pulls from the site's data feed each time the page loads. Treasury yields update once per market day after the official close, and SOFR is published each business day for the prior business day. Each row shows the date of the data it reflects, so you can see exactly which day's print you are looking at.

How much does a rate change affect my loan amount?

When the DSCR test sets the loan size, every rise in rate reduces it. As a hypothetical, a building with $600,000 of NOI at a 1.25x minimum supports about $6,500,000 at 6.25% on 30-year amortization, and about $6,170,000 at 6.75%. The DSCR sensitivity calculator shows the same effect for your NOI and rate.