Interest rates to remain high. That was the takeaway from Fed Chair Jerome Powell's address to central bankers at the annual Jackson Hole Symposium earlier today. "We are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective," said Powell. The market is now anticipating at least one more rate hike before the end of the year, and no rate cuts until 2024.

The average rate on the popular 30-year fixed mortgage is up to 7.57%. The yield on the US 10 Yr is now hovering around 4.25%, up approximately 275 basis points since the start of 2022. HUD commercial interest rates are hovering in the 5.70%-6.70% range over the past 3 months.  Check out today’s rates.

HUD Commercial Loan Rate Update – August 25, 2023

• 35-year fixed FHA perm loans: 5.95%-6.25%
• 40-year fixed FHA construction/perm loans: 6.40%-6.70%

These pricing indications are current as of the date posted, subject to market interest rate volatility.  Pricing of FHA insured apartment and healthcare loans may be dependent on loan size and other risk factors. Call for more information.

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