3 days ago · By locking in a rate, you and your mortgage lender agree to a fixed interest rate that remains steady throughout the loan’s underwriting and closing period. But rate locks carry...

4 days ago · Locking in one of today's lower mortgage rates may make sense, experts say, but there are some items to know first.

May 2, 2023 · A lock-in or rate lock on a mortgage loan means that your interest rate won’t change between the offer and closing, as long as you close within the specified time frame and there are no …

Feb 12, 2024 · When a borrower locks in an interest rate on a mortgage, it is binding for both the borrower and the mortgage lender. The interest rate is locked for the period from the offer of the loan...

Aug 12, 2025 · What is a mortgage rate lock? A mortgage rate lock ensures the interest rate on your mortgage stays the same for a set period of time, typically from the initial quote to closing.

Once locked, the loan’s interest rate won’t change — no matter what's happening with the economy — barring any changes to your application details. You’re protected from higher rates, but you...

Jul 17, 2025 · It’s a myth that borrowers lock in a single rate. In reality, borrowers lock a rate chart. At least once every business day lenders get a new chart with that day’s rates. For example, let’s say a …

Dec 11, 2025 · Most locks last 30 to 120 days, and if you close before it expires, your rate won’t budge, even if rates jump in the meantime. So… should you lock today? It depends on your timeline, your …

How Mortgage Rate Locks Work When purchasing a home, most of us want to secure the lowest mortgage rate possible; but what happens if rates go down before you’re ready to close? That’s …

Jun 13, 2025 · Since it's impossible to know for certain if interest rates will rise or fall while you're closing on your home, here's when it makes sense to lock in your mortgage rate. When to Lock...