Market Rates & Yields

Senior Living Bond Rates

As of

September 14, 2020

Maturity
Taxable Rates
Tax Free Rates
GNMA Taxable
FHA Tax-Exempt
A
BBB
BB+
Refinancing & Expansion
Start-Up
5 Year
N/A
0.72%
1.75%
2.40%
3.15%
3.375-3.75%
4.50-5.00%
10 Year
N/A
1.40%
2.25%
2.90%
3.50%
3.75-4.00%
5.25-5.75%
20 Year
N/A
2.10%
2.80%
3.55%
4.10%
4.00-4.25%
5.75-6.125%
30 Year
2.25%
2.31%
2.95%
3.75%
4.25%
4.375-4.75%
6.25-6.75%

Refinancing & Expansion rates, as well as Start-up rates are new issue rates. Senior living new issue rates for Borrowers in specialty states are often 20-30 basis points lower in yield.

Index
SIFMA Index
LIBOR
Revenue Bond Index (RBI)
10 Year Treasury
30 Year Treasury
0.08%
0.15238%
2.640%
0.642%
1.410%
Index
1 Year
3 Year
5 Year
7 year
10 year
Weekly LIBOR Swap Rates
0.236%
0.235%
0.333%
0.481%
0.688%
Weekly Secured Overnight Financing Rate Date (SOFR) Swap Rates
0.058%
0.035%
0.121%
0.261%
0.455%
Weekly SIFMA Swap Rates
0.16%
0.24%
0.26%
0.38%
0.56%

Indicative Swap Rates, (BBB Rating Category)*

*The above senior living rates are derived from yield spreads provided by the Municipal Market Data Inc. (MMD). These rates are further developed based on HJ Sims observations of transactions that took place the previous week in the primary and secondary markets for senior housing securities. The rates are HJ Sims’ best estimate of the yields available based on their ratings. We cannot guarantee these rates, as they are subject to general market conditions which includes but not limited to size and availability. The purpose of providing these rates is to offer a general overview of the senior housing securities market last week based on our experience and observations. All investments involve risk and may result in a loss of principal. Investors should carefully consider their own circumstances before making any investment decision.

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