Current Interest Rates

The prime rate is the interest rate banks charge their most creditworthy commercial customers, and it moves in lockstep with the Federal Reserve's target rate, typically sitting 3 percentage points above the top of the fed funds range. Many small-business and commercial loans are priced as prime plus a spread.

SOFR (Secured Overnight Financing Rate) is the benchmark rate for overnight borrowing collateralized by U.S. Treasuries, published daily by the Federal Reserve Bank of New York. It replaced LIBOR because it is based on actual observed transactions rather than bank estimates. Most floating-rate commercial real estate loans now price as SOFR plus a spread.

Fixed-rate commercial mortgages are typically priced as a spread over the Treasury yield whose maturity matches the loan term, so the 5-year and 10-year Treasury yields drive fixed-rate loan quotes. When Treasury yields rise, fixed-rate loan pricing rises with them.

The widget refreshes from its sources at most hourly. Prime and Treasury yields come from Federal Reserve Economic Data (FRED), which publishes each business day, and SOFR comes from the Federal Reserve Bank of New York, which publishes each morning for the prior business day.

It varies by asset, leverage, and sponsor strength. As of Q3 2026, stabilized commercial real estate loans commonly price roughly 2% to 4% over their index, while construction and bridge loans price wider. Use the rate calculator to test the range your lender quotes.