Mortgage Banking

Making sense of commercial real estate finance.

Weekly Rate News

Posted by Jordan Crouch on July 21, 2008

  • ECONOMIC NEWS: Last week saw several financial companies report positive earnings, and a drop in the price of oil, lifting the overall markets. The yield on the 10 Year T-Bill rose 30 basis points last week as investors moved back into the stock market. This week Bank of America will report earnings as will Apple, Boeing, WaMu and Columbia Bank (a local Seattle Lender). Watch for Congress to vote on the Freddie/Fannie Plan this Wednesday.
  • LENDING MARKET: Lenders are holding spreads where they’re at, even as the 10 Year Treasury Bill continues to hover above 4.00% again. Once again we are seeing loan dollars being constricted by debt service. On a ten year loan, rates are in the 6.50% range.
  • FINANCE TERM OF THE WEEK: Non-Recourse- A loan that is only secured by the property. If the owner defaults, the lender can only take back the property.

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