Afternoon Rate Update

PWLB PM Update: 27 February 2026, 12:12

PWLB fixed rates were marked modestly lower across the curve at the 12:12 reset, with moves of -1bp to -2bp; little changed overall.

PWLB PM Snapshot

• 1y: 4.45% (-1bp)
• 3y: 4.56% (-1bp)
• 5y: 4.76% (-1bp)
• 10y: 5.34% (-1bp)
• 25y: 6.00% (-1bp)
• 50y: 5.81% (-1bp)

What’s New Since This Morning

No meaningful change from the earlier notice.

Context

• UK GfK Consumer Confidence for February came in weaker than expected at -19 (forecast: -16), indicating continued subdued sentiment.
• Car production data showed a slight year-on-year decline (-0.08), broadly in line with expectations.
• News flow is light on direct gilt or rates drivers; broader market commentary highlights a softening pound following a by-election upset and ongoing political uncertainty.
• No single clear driver in today’s inputs for the modest downward move in PWLB rates.

Look Ahead

• Diary is light into tomorrow.
• Monday 07:00: GBP Nationwide Housing Prices YoY (forecast: 1.1%).

PWLB rates remain stable into the close, with no significant new data or events expected before Monday.

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.