MBS Highway’s Strike Rate tool helps ensure that you never miss a refinance opportunity for your clients by continuously monitoring market rates and alerting you when a target rate is met, allowing you to act quickly and secure the best savings for your clients through refinancing.
Before Setting Up Strike Rate Targets
NMLS ID
First, we recommend adding your NMLS ID to your profile if you haven’t already. To learn how to update your profile, click here.
By providing us your NMLS ID, we are able to load Strike Rate with your past transaction data and update with new transactions. Once your NMLS ID is added, please allow up to 24 hours for transaction data to load into your transaction table.
Email Notifications
To ensure you receive Strike Rate emails, make sure the email notification toggle in the top right-hand corner is turned on. You’ll receive a Strike Rate email when your target rate is met, but no more than one notification per day. If rates decrease by another 0.125% after 24 hours, you will receive a new alert.
To ensure you receive Strike Rate Target emails, please safelist support@mbshwy.com within your email settings.
Setting Up Strike Rate Targets
At the top of the tool, you'll see Today’s Estimated Fixed Market Rates for various loan types. These rates provide a snapshot of current market conditions and help you gauge the timing for a refinancing opportunity.
Next, you will find the Strike Rate Target hits. This is where you can customize the rate thresholds for different categories based on the client’s loan value. Here’s what each field means:
Early Payoff Period: Set the number of months in which your client may want to pay off their mortgage early. The default is set to 6 months, but you can adjust this depending on your clients’ needs.
Below $350,000: Input the target interest rate for properties under $350,000. In the example below, this is set to 0.75%, meaning you'll be notified when market rates drop by this amount.
$350,001 – $766,550: Set a target interest rate for properties within this price range. The example shows 0.5%, which may be higher due to certain market conditions or client goals.
Above $766,551: Enter a target rate for properties above $766,551. The target rate in the example is set to 0.375%, providing an alert when this rate is reached.
When adjusting your strike rate targets, make sure to always click the Save button. If any of your clients satisfy your strike rate targets, you will be notified via email (example below).
In your transaction table, clients who have met your strike rate targets will be highlighted in red with a bell icon next to their name, making it easy to identify those who need immediate attention.
Adding Transactions to the Strike Rate Tool
Automatically Added Transactions
When we receive data about a new transaction you've completed, it will automatically be added to your transaction table. From there, you can easily edit the details including loan amount or interest rate, as well as assign a specific Strike Rate to the transaction. To learn how to edit these transactions, click here.
Manually Adding Transactions
To start tracking refinance opportunities for your clients, you’ll need to add their loan information to the Strike Rate tool. To manually add a client, follow the steps below:
1. Click + Add transaction.
2. Add your Client’s First Name and Last Name.
3. Fill in Loan Information including amount, date, program, term, and current interest rate.
4. Set the target interest rate that will trigger a refinance notification.
5. Click Save.
The tool will now monitor the market and notify you when the Strike Rate is met for your client.
Editing and Removing Transactions
You can edit a transaction’s Loan Amount, Interest Rate, and Strike Rate by hovering your move over the transaction and clicking on the field’s corresponding pencil icon.
To remove a transaction, click the trash can icon on the transaction’s row.
Have questions? Click here to submit a support ticket.