Afternoon Rate Update

PWLB PM Update – 12:30 Notice: Little Changed

PWLB PM Snapshot

• 1y: 4.49% (-1bp)
• 3y: 4.57% (-1bp)
• 5y: 4.76% (-2bp)
• 10y: 5.33% (-1bp)
• 25y: 5.99% (-1bp)
• 50y: 5.81% (unch)

What’s New Since This Morning

No meaningful change from the earlier notice.

Context

• PWLB rates are modestly lower across most maturities, with moves of -1bp to -2bp, despite significant volatility in global risk assets.
• Geopolitical risk remains elevated following US-Israel strikes on Iran, with oil prices surging and global equities under pressure; gold and the US dollar are both stronger.
• UK data releases today were mixed: Nationwide house prices rose 0.3% MoM (in line), but mortgage approvals fell to 60k (below forecast).
• No single clear driver for the small downward adjustment in PWLB rates; broader market volatility and risk aversion are evident in news flow.

Look Ahead

• Diary is light into tomorrow.
• Tomorrow: GBP Spring Economic Statement (medium impact).

PWLB rates remain broadly stable despite heightened geopolitical risk and volatile markets; attention turns to the Spring Statement tomorrow.

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.