US Commercial Real Estate Lending Held Strong | “Your dream home, guided by a local team you can trust.”

In Q2 2026, commercial loan closings kept momentum, with loan counts ↑11% yearly and avg. loan size ↑5%, while spreads and LTVs tightened.
The lending index ended Q2 2026 at 1.0, below its Q1 five-yr high of 1.5 yet still above the prior yearly 1.3 reading.
Pricing competition intensified as commercial loan spreads narrowed ↓21 bps and multifamily spreads ↓15 bps yearly, while lenders tightened leverage terms instead of loosening underwriting.
Alternative lenders led non-agency closings in Q2 with 38% of volume, banks reached 30%, life companies held 21%, and CMBS lenders represented 11%.
Underwriting stayed healthy: debt coverage and debt yield improved, avg. mortgage rates edged to ~6%, and borrowers increasingly favored floating rates despite higher cap costs.