Senior Living Bond Yields

as of June 2, 2020
Taxable RatesTax Free Rates
FHA Tax-
ABBBBB+Refinancing &
5 YearN/A0.940%3.100%3.750%4.500%5.000-5.250%5.500-6.000%
10 YearN/A1.570%3.500%4.250%5.100%5.375-5.750%6.250-6.750%
20 YearN/A2.380%4.000%4.900%5.500%6.000-6.250%6.750-7.250%
30 Year2.450%2.520%4.150%5.100%6.000%6.375-6.750%7.250-7.750%

The rates for Refinancing & Expansion as well as the rates for Start-up are considered to be generically fair and reasonable as of the printing of this publication. However, due to current market conditions, are subject to change on a daily basis until further notice.

SIFMA IndexLIBORRevenue Bond
Index (RBI)
10 Year
30 Year
Indicative Swap Rates
(BBB Rating Category)*
1 Year3 Year5 Year7 Year10 Year
Weekly SIFMA SWAP Rates0.210%0.280%0.300%0.430%0.600%
Weekly LIBOR Swap Rates0.290%0.261%0.364%0.502%0.672%
Weekly SOFR SWAP Rates0.053%0.027%0.118%0.245%0.404%
The above senior living rates are derived from yield spreads provided by the Municipal Market Data Inc. (MMD). These rates are further developed based on HJ Sims observations of transactions that took place the previous week in the primary and secondary markets for senior housing securities. The rates are HJ Sims’ best estimate of the yields available based on their ratings. We cannot guarantee these rates, as they are subject to general market conditions which includes but not limited to size and availability. The purpose of providing these rates is to offer a general overview of the senior housing securities market last week based on our experience and observations. All investments involve risk and may result in a loss of principal. Investors should carefully consider their own circumstances before making any investment decision.

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