Private Lending Market Report – May 2026: Record Loans per Business Day Despite Rising Rates

May reflected continued normalization in broader lending markets as rising 10-Year Treasury yields and consumer mortgage rates disrupted the long decline of bridge and DSCR interest rates. Even so, underlying demand for private lending remained strong, with both bridge and DSCR activity demonstrating resilience and, in one key respect, record-breaking efficiency.

While total monthly volume decreased slightly from April levels, May delivered the highest loans per business day on record across the platform. With only 20 business days in the month, activity concentration reached an all-time high, reinforcing that demand did not weaken. Instead, it remained compressed into a shorter operating window.