FINfacts™ XXIV – No. 435 | October 17, 2024
|
|
|
Prime Rate |
8.00 |
1 Month LIBOR |
4.96 |
3 Month LIBOR |
4.85 |
6 Month LIBOR |
4.68 |
5 Yr SOFR Swap |
3.58 |
10 Yr SOFR Swap |
3.63 |
5 Yr US Treasury |
3.91 |
10 Yr US Treasury |
4.10 |
30 Yr US Treasury |
4.30 |
|
|
Rate: SOFR + 3.95% Leverage: 70% loan-to-cost Term: 3-year initial term, with two six-month extension options Interest-Only: During the initial term Guaranty: Non-recourse
|
|
|
The ever “data dependent” Fed is digesting stronger-than-expected retail and employment reports. The data contributes to the “no landing” narrative that has been taking hold over the past few weeks. Today’s weekly jobless claims report came in at 241,000, less than the expected 260,000. Retail sales jumped 0.4% in September after 0.1% last month, and above the expected 0.3%. Fed futures now indicate 42 bps of rate reductions by end of year. That range was about 75-100 bps about 2 weeks ago. Still to come before the November meeting: September PCE (10/31), October employment (11/1), and the 2024 election (11/6). The reports would have to be pretty strong to spur a “pause” at the next meeting. Stay tuned…
By David R. Pascale, Jr., Senior Vice President at George Smith Partners.
|
|
If you have an inquiry regarding George Smith Partners’ commercial real estate financing, please contact your GSP representative or Matthew Kirisits, at (310) 867-2951 or mkirisits@gspartners.com
|
|
Constellation Place 10250 Constellation Blvd., Ste. 2300 Los Angeles, CA 90067
|
|
|
© 1999 - 2025 George Smith Partners, Inc. DRE # 00822654 FINfacts is an ePublication of George Smith Partners, Inc. For Promotional Purposes Only. All Rights Reserved.
|
|
|
Hi, just a reminder that you're receiving this email because you have expressed an interest in George Smith Partners. Don't forget to add finfacts@gspartners.com to your address book so we'll be sure to land in your inbox!
|
|