Federal Funds Rate
What it is
The Federal Open Market Committee sets a target range for the rate banks charge each other overnight, about eight times a year. The effective rate (EFFR) is where those loans actually traded, published by the New York Fed.
Why it matters for real estate investors
It anchors every short-term rate in the market, including SOFR and the prime rate, so it sets the floor for floating-rate real estate debt.
Source: Federal Reserve Bank of New York. Data as published; as of Nov 3, 2026.
Source: Federal Reserve Bank of New York. SOFR and EFFR data are subject to the Terms of Use posted at newyorkfed.org. The New York Fed is not responsible for publication of SOFR or EFFR data by Relli, does not sanction or endorse any particular republication, and has no liability for your use. The Secured Overnight Financing Rate (SOFR) Data is calculated using data provided under a license granted to the New York Fed by DTCC Solutions LLC (“Solutions”), an affiliate of The Depository Trust & Clearing Corporation. Solutions, its affiliates, and third parties from which they obtained data have no liability for the content of this material. Relli is not affiliated with the New York Fed. The New York Fed does not sanction, endorse, or recommend any products or services offered by Relli.
For information only. Not investment advice.
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