SOFR Swaps

SOFR Swap Rates
1 Year 0.0478%
2 Years 0.0426%
3 Years 0.0383%
5 Years 0.0344%
7 Years 0.0329%
10 Years 0.0321%
15 Years 0.032%
30 Years 0.0288%
Update: 2022-12-13

SOFR Swaps Chart

SOFR Swaps

What is SOFR swap

SOFR swap rate is a swap where a counterparty pays a fixed-rate on an annual, Act/360 basis and receives SOFR, reset daily and paid annually on an Act/360 basis. This rate is a common benchmark for pricing fixed-rate CMBS and other fixed-rate loans.

In a plain "vanilla" swap, one party agrees to pay a fixed interest rate, and, in exchange, the receiving party agrees to pay a floating interest rate based on the SOFR—the rate may be higher or lower than SOFR, based on the party's credit rating and interest-rate conditions.

How are SOFR swap rates determined

Each business day, the New York Fed publishes the SOFR on the New York Fed website at approximately 8:00 a.m. ET. For more information on the SOFR's publication schedule and methodology, see Additional Information about Reference Rates Administered by the New York Fed.