Yields on 5-year U.S. Treasury Notes edged up to 0.92% by the end of March. This is low, to be sure, but up from the barely-keeping-its-head-above-naught 0.36% yield booked at the prior year’s end. This yield is considered to most closely track commercial real estate financing cost, and those are of particular interest to investors […]
Yields on 5-year U.S. Treasury Notes continue to remain at lows reached as COVID slowed economic activity, driving rates lower. As can be seen in the chart above, these rates, most closely tracked for commercial real estate financing cost, remained near zero percent, closing at 0.36%, barely in excess of a third of a percent […]
Yields on 5-year U.S. Treasury Notes continue to remain at lows reached as we began the era of COVID. As can be seen in the chart above, these rates, most closely tracked for commercial real estate financing cost, plummeted from what were already considered low levels to under 50 basis points (0.5%), barely hovering over […]
Yields on 5-year U.S. Treasury Notes remain at lows quickly reached as we entered the era of the COVID-19 pandemic. As can be seen in the chart embedded herein, these rates, most closely tracked for commercial real estate financing cost, plummeted from what were already considered low levels to under 50 basis points (0.5%), barely […]
At the end of the 2nd quarter of 2019, both short and intermediate yields continued their decline from higher levels reached late in the prior year. Also of note is that the yield curve has inverted, with five year rates higher than short term, as can be seen here with 1 month treasuries yielding more […]
On a quarterly basis we publish a yield curve update, showing the shift is the U.S. Treasury Yield Curve at the end of a quarter over the prior quarter. What is more directly of interest to commercial real estate investors, however, is the 5 year U.S. Treasury yield, given its relationship both to commercial borrowing […]
At the end of the 3rd quarter of 2018, both short and intermediate yields continued their climb begun nearly three years ago. As can be seen in the accompanying chart, five year rates, most closely tracked for commercial property borrowing cost, found themselves testing 3%, with short term (here 1 month) rates following close behind […]
At the end of the 2nd quarter of 2018, U.S. Treasury yields, on a nominal basis at all maturities except the longest, increased as much as 25 to 30 basis points. On a real basis, however, rates were essentially unchanged at all maturities. The interest rate environment has the ability to affect commercial property economics […]
At the end of the 1st quarter of 2018, U.S. Treasury yields, on a nominal basis increased at all maturities from around 30 to 50 basis points. It was essentially the same situation on a real basis, with real rates up around 20 to near 40 basis points at all maturities. The interest rate environment […]
At the end of the 4th quarter of 2017, U.S. Treasury yields, on a nominal basis, were up around 30 basis points in all but the longest maturities, which were down slightly, versus the end of the prior quarter. On a real basis, the story was similar, with longer term real rates up with the […]
At the end of the 3rd quarter of 2017, U.S. Treasury yields, on a nominal and real basis, were largely unchanged at all maturities. At every maturity, the basis point movement appears to be under 10 basis points at all maturities, both on a real and nominal basis. The interest rate environment has the ability […]
At the end of the 2nd quarter of 2017, U.S. Treasury yields, on a nominal basis, edged higher at the short end, up about 15-20 basis points for maturities under 2 years, and down on the longer end, up to around 10 basis points for maturities over 10 years. On a real basis, rates edged […]
At the end of the 1st quarter of 2017, U.S. Treasury yields, on a nominal basis, edged higher at the short end, up about 20-30 basis points for maturities under 2 years. On a real basis, rates were largely unchanged. The interest rate environment has the ability to affect commercial property economics in a number […]
At the end of the 4th quarter of 2016, U.S. Treasury yields, on a nominal basis, were notably higher at every maturity, with increases for 5 years or longer of 50 or so basis points. On a real basis, rates we also up across the board, albeit slightly less for maturities of 5 years or […]
At the end of the 3rd quarter of 2016, U.S. Treasury yields, on a nominal basis, were essentially unchanged at the shortest and longest ends, moving up a tad, as much as 20 basis points or so, for all maturities between. On a real basis, for maturities of 5 years or more, yields at the […]
At the end of the 2nd quarter of 2016, U.S. Treasury yields, on a nominal basis, were essentially unchanged at the shortest end, but eased up a touch as longer maturities are considered, with what appears to be a 25 or 30 basis point increase for all maturities 5 years or greater. On a real […]
