September 16, 2014
By Bob Coleman
Editor, Coleman Report
September’s debenture rate of 2.92 percent marked the fourth month in a row the debenture rate has stayed below three percent, and is still well below the 12-month average of 3.2 percent.
“It is clear that borrowers are still benefitting from historically low rates, even as the market anticipates rate increases amid a modest economic recovery. Not only can borrowers access this near-historic rate now, they can lock it in for up to 20 years with a 504 loan.”
September’s loan pool size of $355,242,000 is 13 percent greater than the 12-month average of $309,704,077. This month’s effective interest rate (the all-in cost to a borrower) stands at five percent.