Amongst a global pandemic, social and political unrest and wide-scale economic disruption, 2020 has been a roller coaster of a year that many real estate investors would like to forget. It may be difficult to recall, but it didn’t start out this way.
The beginning of 2020 was a favorable environment for borrowers. Lenders had lofty production goals and were actively competing for deals, leading to compressed spreads. At one point—in February until the beginning of March—borrowers could secure loans with interest rates in the mid-2 percent range given the sizable dip in the 10-year Treasury.
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