Afternoon Rate Update

PWLB PM Update – 06 Mar 2026, 12:24 Reset

PWLB fixed rates were reset higher at 12:24, with notable increases of +3 to +7bp across the curve.

PWLB PM Snapshot

• 1y: 4.79% (+6bp)
• 3y: 4.92% (+7bp)
• 5y: 5.11% (+7bp)
• 10y: 5.63% (+5bp)
• 25y: 6.24% (+4bp)
• 50y: 6.06% (+4bp)

What’s New Since This Morning

• Rates rose across all maturities, with the largest moves (+6 to +7bp) concentrated in the 1–7y sector.
• 10y and longer maturities increased by +3 to +5bp, indicating a parallel but slightly less aggressive move in the long end.

Context

• Halifax House Price Index beat expectations: +1.3% YoY (forecast: 1.1%), +0.3% MoM (forecast: -0.1%).
• Global risk sentiment remains unsettled as the Middle East conflict disrupts energy markets; oil and gas prices are at multi-year highs, with the Strait of Hormuz near-total halt confirmed.
• Market commentary highlights tightening financial conditions and increased inflation risk linked to energy supply shocks.
• UK mortgage rates are edging higher, with lenders citing funding cost pressures tied to global events.

Look Ahead

• Diary is light into tomorrow; no further high or medium-impact GBP releases scheduled today or Saturday.
• Next key event: Tuesday 00:01 – GBP BRC Retail Sales Monitor YoY (forecast: 1.1%).

PWLB rates have moved sharply higher this afternoon, reflecting both domestic data and global market volatility.

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.