OfficeSelective
Tenancy, credit, and basis matter more than headline vacancy. Capital patience favors owners with a real plan.
Capital Markets
Capital markets intelligence for consequential real estate decisions.
CMRE Partners tracks widely-used public market data alongside property and submarket context as inputs to acquisition, financing, leasing, and portfolio conversations.
Official market snapshotas of Friday, July 3, 2026
CMRE Market Intelligence Desk
A capital-markets read built for real estate decisions: what money costs, where the curve is signaling caution, and how rate pressure translates into acquisition, refinancing, leasing, and hold / sell conversations.
Market Pulse
The four rates CMRE references most in underwriting and client conversations.
2s/10s spread+31 bps
10-Yr Treasury
CRE Anchor4.48%
Permanent-debt and cap-rate reference
The reference point for cap-rate conversations and long-term debt. A modest move here can change value expectations quickly.
Fed Funds (Eff.)
Policy Base3.63%
Short-rate policy signal
The policy rate still frames bank credit appetite, floating-rate debt, and the pace at which borrowers regain flexibility.
WSJ Prime
Construction6.75%
Bridge and construction benchmark
Prime-linked debt remains a high hurdle for projects that rely on rent growth, entitlement upside, or a future takeout.
30-Day SOFR Avg
Floating3.63%
Base index before spread and cap cost
CMRE looks at the all-in cost of floating debt, not the headline index, especially where extension risk matters.
U.S. Treasury Curve
Constant-maturity yields across the curve. Toggle to compare policy and lending benchmarks.
2s/10s spread: +31 bps (positive / normally sloped). Dated public snapshot shown until live series load.
Curve Signal
2s / 10s spread
InvertedFlatSteep
A modest positive slope suggests less stress than an inversion, while still demanding discipline on exit cap assumptions.
Cost Of Capital
Debt and benchmark ladder
Scenario Desk
Rate sensitivity
Illustrative float coupon~6.13%
Cap-rate pressureBase case
Value disciplineHold assumptions tight
Base case uses SOFR plus an illustrative 250 bps spread. It is a sensitivity view, not a quote, forecast, or financing recommendation.
Yield Curve Detail
Maturity-by-maturity read
| Maturity | Yield |
|---|---|
| 1 Month | 3.67% |
| 3 Month | 3.85% |
| 6 Month | 4.00% |
| 1 Year | 4.00% |
| 2 Year | 4.17% |
| 3 Year | 4.19% |
| 5 Year | 4.24% |
| 7 Year | 4.35% |
| 10 Year | 4.48% |
| 20 Year | 4.97% |
| 30 Year | 4.97% |
PNW Implications
How the tape changes the conversation
IndustrialDisciplined
Demand is still location-specific, but higher debt costs punish generic basis and speculative timing.
MultifamilyRate-Gated
Permanent debt remains the gatekeeper; rent growth must be underwritten against realistic exit cap assumptions.
Land / EntitlementsOption Value
Duration is the asset. Carry, entitlement path, and partner structure decide whether patience is rewarded.
Decision Translation
From market data to principal-level guidance.
Re-run basis at +25 / +50 bps and confirm the debt takeout still works.
Compare fixed, floating, and extension paths before the maturity date compresses leverage.
Tenant credit and lease duration can offset rate pressure when capital markets stay selective.
Translate rate pressure into concrete underwriting support, not vague market commentary.
Questions about what these numbers mean for a decision? - our clearly labeled AI information desk, tied to the live data above.
Each series carries its own observation date. These are public market readings, not CMRE forecasts or live quotes.
Sources: Federal Reserve H.15, NY Fed SOFR, Freddie Mac PMMS, and FRED where configured. Each series reports its own observation date. Figures are presented for context, not as forecasts, quotes, or recommendations, and should be re-verified before use in a client deliverable. Nothing in this section constitutes investment, legal, tax, financing, or brokerage advice for a specific transaction.