Well, that's simply down to the, to swap rate.

好吧，这完全取决于掉期利率。

So what we've seen is now swap rates have fallen again.

所以我们现在看到的是掉期利率再次下降。

So you've got a five-year swap rate at 3.52 at the moment.

因此，目前五年期掉期利率为 3.52。

But now swaps market pricing and terminal rates of 5.3 per cent by the end of the year, and they're currently at four and a half per cent.

但现在，到今年年底， 掉期市场定价和终端利率为 5.3%，目前为 4.5%。

Now, for lenders working on their pricing, and it's not quite as exact as this, but they take swap rates as a good basis of how they price their funds and their products.

现在，对于从事定价工作的贷方来说，它并不像这那么精确，但他们将掉期利率作为他们如何为资金和产品定价的良好基础。