Afternoon Rate Update

Good afternoon! Here’s your latest update on PWLB rates and market movements.

Headline

PWLB Rates Hold Steady: A Quiet Afternoon

Notice Date: 07 January 2026
Reset Time: 12:30 PM

Maturity Rates

• 1y: 4.55% (0bps)
• 2y: 4.62% (0bps)
• 3y: 4.70% (-1bps)
• 5y: 4.90% (-2bps)
• 10y: 5.46% (-3bps)
• 25y: 6.08% (-3bps)
• 50y: 5.84% (-3bps)

Rates have barely moved this afternoon, with the 3-year, 5-year, 10-year, 25-year, and 50-year rates all experiencing minor declines.

Afternoon Context

This morning’s GBP S&P Global Construction PMI was released at 10:30 AM, showing an actual value of 40.1, matching the forecast and up from the previous 39.4. The market remains cautious, influenced by ongoing geopolitical tensions and the recent announcement regarding Venezuelan oil supplies to the US, which has led to a slight dip in oil prices. Overall, the lack of significant movement in PWLB rates reflects a stable sentiment in the market, with no major shifts in gilt yields expected at this time.

Calendar Events

RELEASES SO FAR TODAY:

• GBP S&P Global Construction PMI - Actual: 40.1, Forecast: 40.1, Previous: 39.4

REMAINING TODAY:

• No further significant economic releases today.

TOMORROW AND THIS WEEK:

• Tomorrow 07:00: GBP Halifax House Price Index MoM - Forecast: 0.1%
• Tomorrow 07:00: GBP Halifax House Price Index - Forecast: 1.0%
• Tomorrow 09:30: GBP DMP 1Y CPI Expectations - Previous: 3.4%
• Tomorrow 10:00: GBP BBA Mortgage Rate - Forecast: 6.6%
• Tuesday 10:00: GBP Index-linked Treasury Gilt 2035 Auction
• Wednesday 10:00: GBP Treasury Gilt 2035 Auction

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, may your rates be low and your treasury operations smooth!