Morning Rate Update

Headline

PWLB Rates Take a Gentle Dip: A Calm Before the Storm?

Notice Details

Today's PWLB Interest Rate Notice is number 481/25, with rates reset at 09:18 on 11 December 2025.

Maturity Rates

• 1y: 4.66% (-3bps)
• 3y: 4.79% (-4bps)
• 5y: 4.99% (-4bps)
• 10y: 5.54% (-4bps)
• 25y: 6.15% (-2bps)
• 50y: 5.91% (-3bps)

Rates have generally decreased by 2 to 4 basis points across the board, with no significant movements to report. It seems the market is taking a breather.

Market Context

The yield curve remains relatively flat, with minor reductions in rates across short to medium maturities. Today, the GBP RICS House Price Balance was released, showing an actual of -0.16 against a forecast of -0.20, indicating a slight improvement in sentiment, albeit still negative. This could suggest a stabilising housing market, which may have implications for local authority borrowing. In the news, the Federal Reserve's recent rate cut has influenced global markets, with UK stocks showing mixed reactions. Additionally, concerns over tech valuations, particularly following Oracle's disappointing earnings, have led to a cautious mood among investors. Overall, the market appears to be digesting these developments without any drastic shifts in PWLB rates.

Calendar Events

TODAY’S RELEASES:

• GBP RICS House Price Balance - Actual: -0.16, Forecast: -0.20, Previous: -0.19

REMAINING TODAY:

• No significant economic releases scheduled.

THIS WEEK AHEAD:

• Tomorrow, 07:00: GBP Industrial Production MoM - Forecast: 0.01
• Tomorrow, 07:00: GBP Manufacturing Production MoM - Forecast: 0.01
• Tomorrow, 07:00: GBP GDP MoM - Forecast: 0.000
• Tomorrow, 07:00: GBP GDP YoY - Forecast: 0.9%

This commentary is provided for informational purposes only and should not be construed as financial advice. Market conditions can change rapidly, and you should always verify current rates directly with the PWLB or through official channels before making borrowing decisions. Past performance is not indicative of future results.

Until next time, keep your treasury operations smooth and your rates low!