Should I look for a different loan now that the Fed cut the prime rate?
I'm under contract for a small MF asset. I started an application for an agency loan prior to the Fed cutting the prime rate. The lender is telling me they're now quoting money at only 10bps below what I was quoted. 

I can't find historical data on CRE loan rates through my work resources so can't compare to prime and to see if it makes sense. Just from a high level view, if that's the impact on CRE lending generally why would anyone care if the Fed cuts rates? Obviously if I can find significantly cheaper money elsewhere I'd like to but I don't want to keep this guy on ice too long.

Can anyone fill me in on what I'm missing here?
[{"id": "fjl521e", "text": "I am not sure what rate you are getting, so this is all just from my experience, but I have quoted 3 different agency loans this week between a 3.29%-3.75% depending on what tier the property is in, LTV needed, etc.  \n\n&amp;#x200B;\n\nThe rates don't really follow prime.  One of the indexes is off of the 10 year treasury, which is around 0.92%.  They have implemented a floor to their spread, but the rate is still amazingly low.\n\n&amp;#x200B;\n\nHope this helps you out.", "replies": [{"id": "fjl91rh", "text": "&gt;The rates don't really follow prime\n\nThat's exactly what I was looking for and it helps a great deal! Thanks.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fjpmzx0", "text": "Construction loans are tied to prime rate plus a margin of anywhere from 200-300 bps (2-3%) Permanent (think traditional) loans generally will not be.", "replies": [], "depth": 1}]