Latest available financial benchmarks and real estate market references
Financial Indices
Latest available U.S. interest-rate benchmarks from the Federal Reserve, Federal Reserve Bank of New York, and U.S. Treasury.
| Benchmark | Latest | As of |
|---|---|---|
| Policy Federal Funds Target Range (opens in a new tab) Policy range set by the FOMC. | — | |
| Overnight / short-term funding Effective Federal Funds Rate (opens in a new tab) Volume-weighted median rate on overnight federal funds transactions. | — | |
| Overnight / short-term funding SOFR (opens in a new tab) Overnight Treasury-secured financing benchmark. | — | |
| Bank lending Bank Prime Loan Rate (opens in a new tab) Bank prime loan rate reported by the Federal Reserve. | — | |
| Term market benchmarks 5-Year U.S. Treasury (opens in a new tab) Daily Treasury par yield at a 5-year constant maturity. | — | |
| Term market benchmarks 10-Year U.S. Treasury (opens in a new tab) Daily Treasury par yield at a 10-year constant maturity. | — |
Cap Rate Spread
Selected cap rate − 10-Year Treasury yield = cap-rate spread.
Example:
6.25% cap rate − 4.50% Treasury yield = 1.75 percentage points, or 175 basis points.