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10-Year Treasury Hits Record Low

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10-year-treasury-1790Holy cow. Did you see the news this morning? The Wall Street Journal is reporting that the US 10-Year Treasury yield has hit a record low of 1.641 percent. This is mostly due to the European debt crisis that is being fueled by the financial strain in Greece and Spain. While the Treasury may be influenced by factors overseas, it’s greatly influencing the lending environment stateside.
As our recovery chugs along and investors return to the market, this extra little incentive to borrow is causing quite the competition in commercial real estate. We overheard many ICSC panelists and attendees talk about how brutal the market has become for Class A assets in core markets. Many are trying to avoid these aggressive bidding wars altogether by looking at B and C properties in secondary or tertiary markets.
Whatever your strategy, know that these rates cannot possibly last. If you’re looking to get a deal done, we recommend identifying a few choice properties using ProspectNow. Then, submit an application – one that is complete and straightforward – as soon as possible to lock in these historic rates. We hear the surge in borrowers has created a backlog for lenders, and those loans getting through are the ones that are easiest to process.
By no means do we want you to hastily jump into the market just to take advantage of these rates. But rather, we recommend that you do a little market research, find the properties where you think the greatest opportunities exist and – if it pencils for you – get those applications in before it’s too late!

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