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Updated about 4 years ago,

User Stats

793
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620
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Aaron W.
  • Rental Property Investor
  • Northern Virginia
620
Votes |
793
Posts

Freddie Mac Floating Interest Rate

Aaron W.
  • Rental Property Investor
  • Northern Virginia
Posted

Hi all! We're looking at a Freddie Mac Float to Fix Rate Loan. It says during the floating period, the interest rate is the 30-day average SOFR + 20 bps. Looking online, it shows the 30-day average SOFR at 0.085. If I am understanding correctly, adding 20 bps would make the floating loan 0.285. Is that correct?Anyone who recently completed a Freddie Mac floating interest rate loan, what rates are you seeing right now?TIA!