Market Report – July 2026: Bridge Interest Rates Break Below 10% as DSCR Regains Record Volume

July brought two milestones to private lending on Lightning Docs. Bridge loan interest rates dropped below 10% for the first time since June 2022, even as bridge volume cooled from June's record pace. At the same time, DSCR lending set an all-time high for monthly transactions on the platform, even as year-over-year growth among the longest-tracked users continued to slow.

Taken together, the data paints a picture of a market where borrower demand remains resilient, competition continues to pressure pricing, and capital availability appears healthy across both bridge and DSCR lending. Let's break down what the numbers show across volume, rates, and geography, and what they likely mean for lenders and investors trying to plan ahead.

Bridge loan volume came down from June's record pace, with 2,621 transactions closed in July. Even so, that's 9% growth year-over-year from July 2025, showing the segment is still on a healthy growth trajectory rather than losing steam. However, June does appear to be an anomaly and the exception rather than the trend that we have been seeing of typically high single digit YoY growth across the same customers.