Last week, the 10-year yield broke through its support at around the 2.13% level (see the graph below where the red circle and the blue line intersect). I can sit here and tell you that it is Harvey, North Korea, Irma, the US Political environment, etc. The point is that we are incurring a lot of instability. That tends to suppress interest rates. The negatives that exist certainly create opportunities for those that purchase and refinance properties. Let’s hope the destruction caused by Irma surprises all of us in a good way.
Over the last couple of weeks, I have been discussing how to maximize the Client Experience. And, I know that often our clients really do not realize the value of what we do. With that in mind, I wanted to post a recommendation that I received from a challenging client.
This is the type of client we all get from time to time. He is very bright, demands a lot, and took more of my time than the typical client. With all that said, this guy found a way to demand a lot, yet I still respected the heck out of him and his knowledge. Would I want more just like him? You bet!
I hope you get something out of his recommendation/testimonial as he greatly appreciated and understood all that was done for him. Have a good week. As always, feel free to give me a call with any of your strategic financing questions.
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Joseph Durante
Attorney/Principal
I am a rather chronologically mature person with legal and business experience spanning decades and I have, consequently, gained experience in real estate transactions and financing of them. Naturally, I have also dealt with loan agents over the years. Marty was highly recommended to me by my bank that could not lend in the State in which I was buying the commercial real estate.
I found Marty to be incisive and straight-forward immediately. It was like a breath of fresh air to me because I have found such virtues to be uncommon.
Beyond finding the most favorable financing on a 10 years fixed loan with no increases during the full term of the loan (not easy with commercial properties these days), Marty worked assiduously with me not only on and for the loan but to iron out some problems that arose in connection with the purchase of the property itself. The intelligence, time and efforts devoted to my transaction were well beyond the norm. His integrity was refreshing. and, yes, he was at the Closing.
I highly recommend him to anyone interested in obtaining excellent financing and personal assistance throughout the transaction.
Articles of Interest:
The NY Post reported “Are we headed for another housing collapse?”
The SJ Mercury News reported “Investors grab Sunnyvale building in Google area of interest.” Ahhhh, more of the amazing Google effect.
The SJ Mercury News also reported “Equifax hack gives criminals data to loot your bank account, shop with your money, expert says.”
See the table below for approximate interest rates.
| Type | Rate | Fixed Term |
| Apartments | 3.525% – 4.310% | 3 to 10 year (30 yr amortization) |
| Commercial | 3.845% – 4.610% | 3 to 10 year (25 yr amortization) |
| Construction | Call for Rate | Call for Rate |