By Robert Murphy
If borrowers have been deliberating whether to refinance existing CRE debt, today’s market conditions present an excellent opportunity to lock in long-term debt. You may have recently heard talk about the yield curve flattening – in this instance, short-term government rates have crept up within shouting distance of the 10-year Treasury yield. The last time the spread between the 10T & 2T notes (as of 4/25: 0.53%) has been this narrow was April 2005. Although the flattening yield curve is inviting discussion from market experts about possible inversion, the current flatter curve provides a long-term CRE investor with a terrific opportunity to refinance existing floating-rate debt.