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Rate Lock
(redirected from Rate Locks)

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Rate lock
An agreement between the mortgage banker and the loan applicant guaranteeing a specified interest rate for a designated period, usually 60 days.
Rate Lock
An agreement between a mortgage bank and a potential borrower promising that that the bank will not change the proposed interest rate on a loan that has not been concluded for a certain period of time. The rate lock usually lasts for 60 days.
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Early rate locks or forward commitments are lender agreements that allow cooperatives to secure a desirable interest rate, yet delay closing until the pre-payment window has opened.
Co-ops plan ahead with early rate lock option by Howe, Edward, III / Real Estate Weekly
The level of rate locks is a general indication of the level of mortgage production that can be expected in the near term.
Flagstar Reports Second Quarter Loan Production by PR Newswire
Corresponding Interest Rate Locks Enable Borrower to Avoid Fluctuations and Refinance At A Lower Rate CHICAGO -- Cohen Financial, a national real estate finance company, announced that the firm has secured $152 million in debt refinancing for 42 free standing Walgreen's properties located in major metropolitain areas across the country.
Cohen Financial Secures $152 Million in Financing for a Portfolio of ... by Business Wire
 
 
 
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