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On Tuesday the Federal Reserve announced a three-quarters cut to the federal funds rate. This comes just two days after a surprise weekend decision to cut the discount rate by a quarter point. Tuesday’s cut sent the stock market into a frenzy as many investors had been anticipating a decrease of a full percent. However by close of day the market had basically leveled out.

Several banks have started to implement the new conventional loan limits. As it looks now, those seeking a new higher amount “conforming” loan should expect to receive a rate anywhere from 1% to 3% higher than what is available for loans that fall under the terms for standard conventional loans.

Rates for short-term fixed multifamily loans remain extremely competitive. Currently we have access to a 3-year fixed program at 5.29%, for loans $200,000 and up. This program is amortized over 30 years and features a rate floor of 4.326% as well as low fees.

~Sam Nelson, Venture West Funding: Website

This entry was posted on Wednesday, March 19th, 2008 at 1:27 pm and is filed under Commercial Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.