U.S. ECONOMIC MACRO COMMENTARY & INSIGHTS
The Market Is Still Carrying Water for the Fed
- Real yields remain elevated even as the Fed remains on hold.
- The market is doing much of the tightening work through higher borrowing costs.
- For CRE, stable rates do not necessarily mean easier capital markets.
The Federal Reserve may be holding its policy rate steady, but the cost of capital has not stood still. That distinction matters. Since last fall, the Fed has eased its overnight policy rate, yet longer-term borrowing costs remain elevated and real Treasury yields have moved higher. In other words, the market has continued to tighten financial conditions even as the Fed has stepped back from active tightening.
fed funds vs. 10yr ust real yields
2026 Multifamily Investor Sentiment Survey
In December 2025, we surveyed over 250 of our trusted clients from various companies, with most holding senior-level titles, for our second annual Multifamily Investor Sentiment Survey. Our goal is to provide a comprehensive view of current market sentiments to our clients, and we plan to share our findings in our detailed report.
2026 Multifamily
Powerhouse Poll
In Berkadia’s Annual Multifamily Powerhouse Poll, we surveyed over 200 investment sales advisors and mortgage bankers to offer their unique perspectives on the state of the commercial real estate (CRE) industry.
Beyond Insights: Markets
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The Market Is Still Carrying Water for the Fed
Real yields are doing much of the tightening work and theyoffer the clearest read on the true cost of capital. The Federal Reserve may be holding its policy rate steady, but the cost of capital has not stood still. That distinction matters. Since last fall, the Fed has eased its overnight policy rate, yet longer-term…
Assisted Living and Memory Care Community, Long Grove, IL | Sold by Berkadia 2026
Berkadia Announces Senior Living Closing in Northwestern Chicago Long Grove, Illinois – August 14, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale of a 138-unit assisted living and memory care community located in Chicago’s affluent Long Grove submarket. Built in 2018, the community is among the newest…
Wyndham Lakes, Jacksonville, FL | Sold by Berkadia 2026
Berkadia Announces Senior Living Sale in Jacksonville, Florida Jacksonville, Florida – August 14, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale of Wyndham Lakes, a 246-unit independent living, assisted living, and memory care community in the thriving southern suburbs of Jacksonville, Florida. Senior Managing Directors Mike Garbers,…