Locking the Interest Rate
Lenders lock (meaning "guarantee") the rate and points for a specified period. For example; If a fixed-rate mortgage (FRM) is locked at 5.5 percent and one point for 45 days, the lender is committed t
http://www.brokeroutpost.com/reference/20192.htm (Updated: 03/12/2006)
Related Reference Topics: [rate lock, interest rate, rate lock extensions]