A time period (typically 30-120 days) during which you can lock in the current best mortgage rate. If rates go down during this time, most lenders will honour the lower rate.
« Back to Glossary Index
A time period (typically 30-120 days) during which you can lock in the current best mortgage rate. If rates go down during this time, most lenders will honour the lower rate.
« Back to Glossary Index