U.S. ECONOMIC MACRO COMMENTARY & INSIGHTS
The State of Borrowing Costs: Higher Rates, Tighter Spreads
- Agency CMBS spreads have maintained a holding pattern for nearly 7 months
- Inflation continues to linger above the Fed’s stated 2% goal
- U.S. Treasury makes a play to drive interest rates tighter
There has been a lot of ink spilled recently about Treasury Secretary Scott Bessent’s announcement that the Treasury Department will increase its buybacks of longer-dated securities. But let’s not conflate the Treasury and the Fed. The Treasury’s job is to finance the government. The Fed’s job is to maintain price stability and employment. For years, investors have looked to the Fed when policymakers wanted to influence financial conditions or borrowing costs. Treasury’s recent actions don’t carry the same firepower.
Trading Spreads Hold Tight
2026 Multifamily Investor Sentiment Survey
In December 2025, we surveyed over 250 of our trusted clients from various companies, with most holding senior-level titles, for our second annual Multifamily Investor Sentiment Survey. Our goal is to provide a comprehensive view of current market sentiments to our clients, and we plan to share our findings in our detailed report.
2026 Multifamily
Powerhouse Poll
In Berkadia’s Annual Multifamily Powerhouse Poll, we surveyed over 200 investment sales advisors and mortgage bankers to offer their unique perspectives on the state of the commercial real estate (CRE) industry.
Beyond Insights: Markets
From occupancy to cap rates, employment to migration trends, read the latest market-driven insights.
The State of Borrowing Costs: Higher Rates, Tighter Spreads
Why Agency borrowers have been helped more by spread compression than Treasury policy There has been a lot of ink spilled recently about Treasury Secretary Scott Bessent’s announcement that the Treasury Department will increase its buybacks of longer-dated securities. But let’s not conflate the Treasury and the Fed. The Treasury’s job is to finance the…
Class A Multifamily Community, Falls Church, VA | Financed by Berkadia 2026
Berkadia Arranges $114M in Debt & Equity Financing for Rushmark to Build Transit-Oriented Multifamily Community in Falls Church, Virginia Washington D.C. – August 28, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that it arranged $114 million in debt and equity financing for developer Rushmark Properties to build a…
Heartis Mid Cities, Bedford, TX | Sold by Berkadia 2026
Berkadia Announces Full Acuity Senior Living Sale in DFW Metroplex Bedford, Texas – August 28, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale of Heartis Mid Cities, a 178-unit independent living, assisted living, and memory care community located in the heart of the Dallas-Fort Worth metroplex in…