Opening the Rate Details
Click the pencil beside any rate cell on the Rates page (Tools > Rates) to open its details. The Edit Rate modal shows the lender and term you clicked, the rate value, and two fields the inline cell editor never shows: a note and an expiry date. A quick rate change doesn't require either one, so open the pencil only when you actually want to record something beyond the number itself.
Writing the Note
The note is a free-text field for whatever explains the rate: a promo the lender quoted over the phone, a condition attached to it, or a reminder about what changes once a hold runs out. Write it the way you'd want a teammate to read it if they opened this cell after you, since it's the only place that context lives. Saving the note doesn't touch the rate itself unless you edit the rate field in the same save.
Setting an Expiry Date
Pick a date in the same modal to mark when the note stops being current. An expiry with no note is fine too, if a bare reminder is all you need. Once that date passes, the rate on the grid picks up a small gold underline, so an old promo doesn't keep quoting quietly beside everything else on the list.
Where the Note Shows
Keep this in mind before you write one: a rate note and its expiry are internal only. Neither ever reaches a client report, the client-facing request flow, or anywhere a borrower can see it - they exist strictly for you and your team. On the grid, an underlined rate reveals its note and expiry on hover; there's no separate list of notes to browse, so the underline is what points you back to the cell.
What Expiry Does and Does Not Do
Expiry is advisory, not automatic. Passing the date doesn't delete the note, doesn't revert the cell to the market rate, and doesn't recalculate anything that depends on it - refinance comparisons and penalty numbers keep reading whatever rate is saved until you change it yourself. All expiry does is underline the cell so it reads as stale. Treat that underline as a cue to check back with the lender, then update or clear the note and rate on your own.
What to Do Next
- Add a rate override for how the rate value itself gets changed
- Manage the Rates Page for how notes fit into the grid as a whole
- Upload a Rate Sheet if you're bringing in a whole set of lender rates at once