Mortgage Rates Data: Best Mortgage Rates Datasets & Databases

What is Mortagage Rates Data?

Mortgage rates data is a record of real-time and historical mortgage rates. A mortgage rate is the rate of interest charged on a mortgage. This rate is determined by the lender and can either be fixed (meaning it stays the same for the duration of the mortgage) or variable (meaning it changes depending on a benchmark interest rate).
Mortgage rates differ for borrowers depending on their personal credit profile as well as current interest rate cycles. Mortgage rates have a key impact on the homebuyers’ market - high rates normally suggests fewer buyers will purchase properties, whereas lower rates tend to encourage buying.

How is Mortagage Rates Data collected?

Mortgage rates datasets are normally compiled using information from surveys. Companies survey lenders on their current rates as well options such as the 30-year fixed-rate or the 15-year fixed-rate. This information is collected and analyzed by data providers to create mortgage rate profiles which provide market intelligence on not only a specific financial institution’s mortgage rate, but also an overview of mortgage market at a given point in time.
The lenders that are surveyed can range from many different types of institution. They can be credit unions, commercial banks or even specific mortgage lending companies. Often, a mortgage rate dataset will compare different institutions that fall into the same general category.

What are the attributes of Mortagage Rates Data?

A mortgage rates dataset will provide different types of information:
Real-time rates - Businesses need regularly updated mortgage rates datasets as these give the clearest overview of the current mortgage market. Real-time rates will show the mortgage rates of different lenders across a similar domain so you can compare how one institution’s rates compare to another.
Historical rates - information about historical mortgage rates is equally important because mortgage contracts tend to extend over a long period of time. By having access to historical records you can see how mortgages rates have changed over and compare this to trends in the homebuyers’ market.
Lender information - mortgage rates datasets may also provide information about the lenders themselves. This is important for businesses because you can then make well-informed decisions about how to trust for your loan.

What is Mortagage Rates Data used for?

Mortgage rates have a place of particular importance in the real estate industry. Businesses use these datasets to track changes in mortgage rates so they can accurately measure the state of the homebuyers’ market. When rates are lower, people are more likely to look to buy properties and take out a mortgage, whereas when rates are higher the opposite is also true. Staying up to date with mortgage rates is important for those involved in the property market as they can use this data to predict when they might have more success selling properties.
Financial institutions also use mortgage rates datasets to better understand the mortgage market. As some rates are dependent on current interest rates, it is key to have intelligence on how the market is evolving and the effect this will have on mortgage rates.

How can a user assess the quality of Mortagage Rates Data?

Regularly updated and real-time intelligence about current mortgage rates is important for many businesses, therefore the best datasets will provide this information. However, in the case of mortgage rates data, historical rates are equally important due to the long-term nature of many mortgages. It is crucial for businesses to be able to see how mortgage rates have changed over time and the effect this has on the homebuyers’ market. Due to the different types of lenders and mortgage rates datasets available make sure to ask for a data sample from the provider before you purchase any mortgage rates data.

Where can I buy Mortgage Rates Data?

Data providers and vendors listed on Datarade sell Mortgage Rates Data products and samples. Popular Mortgage Rates Data products and datasets available on our platform are Mortgage Rates (Front Line Prices) - Live Feed by RateSpot, Mortgage Advertisement data for independent mortgage lenders by Datahut, and Mortgage Rates (Front Line Prices) - Hourly Historical Prices (6am - 10pm EST) by RateSpot.

How can I get Mortgage Rates Data?

You can get Mortgage Rates Data via a range of delivery methods - the right one for you depends on your use case. For example, historical Mortgage Rates Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time Mortgage Rates Data APIs, feeds and streams to download the most up-to-date intelligence.