Ownwell automatically pulls in daily mortgage rates from Lender Spotlight, so you always have an up-to-date view of the market without needing to maintain a separate rate sheet.
Custom Rates lets you replace those default rates with your own, so the opportunities Ownwell surfaces better reflect the deals you can actually write.
That could include preferred lender pricing, special broker rates, lender promos, or any other rates you want Ownwell to use in calculations.
This matters because the more closely your settings reflect your real-world pricing, the more useful and actionable your opportunities become.
Quick walkthrough
Prefer to see it in action? Watch this quick walkthrough.
This video walks you through how Custom Rates works in Ownwell, including how to set your rates and how they affect opportunities.
Before you start
You don’t need to rebuild your entire rate sheet to use this.
Most brokers start by updating a few key terms they use most often (like 3-year and 5-year fixed), then expand over time.
Anything you don't edit will continue using Lender Spotlight automatically.
You can revert any changes at any time. There’s no risk of breaking anything!
How Custom Rates works
Ownwell assumes Custom Rates are the preferred rates, so they override any rates found in Lender Spotlight.
That means if you enter a custom rate for a specific scenario, Ownwell will use your custom rate for that scenario instead of the Lender Spotlight rate, even if Lender Spotlight has a lower rate.
If a field is left blank, Ownwell will fall back to the Lender Spotlight rate for that scenario.
If you enter a custom rate, Ownwell will use it.
Even if a lower market rate exists.
Because of this, your Custom Rates table should reflect the best rates you actually want Ownwell to use.
Understanding the table
When you open the Custom Rates page, you’ll see two sections: one for A lenders and one for B lenders.
The fields are prepopulated with lowest Lender Spotlight rate available for that scenario.
This is a benchmark, not a quote.
It shows the lowest market rate for that scenario
It’s based on the province where most of your clients are
Real client rates may differ based on eligibility (credit, income, etc.)
Use it for comparison, not as a guarantee.
Custom rates (A Lenders)
The A lender table is more detailed. It breaks things down by scenario (like refinance or switch), insurance status, and term. This mirrors how A lender pricing is structured in the real world.
Custom rates (B Lenders)
The B lender table is simpler. You’re generally just setting a rate by term.
Each field represents a specific scenario. For example, a 3-year fixed switch for an insurable mortgage.
If you enter a rate in that field, you’re telling Ownwell to use your number for that exact situation. If you leave it blank, Ownwell continues using the default rate from Lender Spotlight.
You’ll also notice a small “LS: X%” value under each edited field. That shows the best possible rate currently available in Lender Spotlight for that scenario, so you can quickly compare your pricing to the market.
Ownwell always looks for the lowest valid rate available for the client’s situation.
That means it does not simply match the remaining term on the client’s current mortgage.
For example, a client might have 2 years remaining, but if the best valid option available is a 5-year fixed switch at 4.10% and the 2-year fixed switch is 4.30%, Ownwell will calculate the opportunity using the 5-year fixed rate.
The system is always trying to find the strongest rate-based opportunity available, based on the logic and options available for that client.
How to set a custom rate
Setting a rate is straightforward.
Go to your Settings page and scroll down to the Custom rates section, find the term and scenario you want to adjust, and enter your number. Once you save, that rate is immediately available for use in calculations and opportunities.
In general, this table should represent your best real-world rates for each situation.
You can do this for one field, a handful of terms, or your entire rate sheet — whatever fits how you run your business.
Variable rates
Variable rates work slightly differently.
Instead of entering a final rate, you enter a discount. Ownwell then calculates the effective rate for you and displays it directly below the field, so you can see the exact outcome.
This makes it easier to confirm exactly what rate the system will use.
Reverting rates
If you ever want to undo a change, you can.
You can revert a single field or reset everything back to default. When you do, the field returns to the Lender Spotlight rate for that scenario.
What happens after you update rates?
As soon as you save your changes, they’re live.
Ownwell will start using your rates in its calculations right away. That means your interest savings numbers and surfaced Opportunities may change.
In practice, you’ll often see new opportunities appear, or existing ones become more (or less) compelling based on your pricing.
Best practices for using custom rates
Treat this as your working rate sheet inside Ownwell
Start with the terms you use most often
Keep rates updated as your pricing changes
Review periodically against Lender Spotlight
The closer this reflects your real pricing, the more useful your opportunities will be.
FAQ
Do I need to fill in every field?
No. Anything left blank will continue using Lender Spotlight.
Are custom rates added to Lender Spotlight rates?
No. They replace them for that scenario.
What happens if Lender Spotlight has a lower rate?
If you’ve set a custom rate, Ownwell will use your rate. If not, it uses the lowest Lender Spotlight rate.
Why might an opportunity show a different rate than the table?
Because the table shows a benchmark. Real opportunities depend on client-specific eligibility.
Does Ownwell always match the client’s current term?
No. It uses the lowest valid rate available, even if it’s a different term.
Can I undo my changes?
Yes. You can revert individual fields or reset everything at any time.
Will this affect all my clients?
Yes. Changes apply across your account immediately.