LLC loan interest rates over the last 5 years and refinancing

[Jacqueline Ho]

Hi everyone! I am trying to understanding the history of interest rates for an LLC loan. My partner and I are in the middle of purchasing a duplex in the Philadelphia area. We are taking a loan out on the LLC with one of us as a personal guarantor; from my understanding, this is a commercial loan. The loan is 7.75% 30-yr fixed.

We were asking our mortgage broker if interest rates ever decrease for these loans. Our broker mentioned that the average interest rate is 7.5-9% and they have never seen the rates drop below 7%. Is this accurate? How would one make a BRRR work in this scenario?