Rate Lock

0.01 sec.

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.

Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.

?Page tools

Printer friendly
Cite / link

Feedback
Add definition

Mentioned in	?		References in periodicals archive	?		Financial browser	?		Full browser	?
Float-Down lock-in period locked-in interest rate Locking the Loan Mortgage Scams and Tricks rate guarantee Rate-lock selling			The loan closed in less than 35 days following application and Freddie Mac provided an Early Rate Lock (ERL) mechanism. NorthMarq Capital by Real Estate Weekly Demand for Fannie Mae's Early Rate Lock (ERL) products in 2008 was strong as borrowers sought interest-rate certainty in an uncertain market. Fannie Mae invests $35.5 billion in multifamily housing in 2008 by Mortgage Banking The downside is that homeowners with fixed rate home loans or mortgages do not benefit if the interest rates drop because a fixed rate locks them in. Home Loans for the First Time by Ian Mcintosh / Finance and Investment community			Range Forward Rangebound Rank Correlation Rank in Person Rank-and-File Ranking RAP Rappel de salaire Rappen Rapport Rapport annuel Rapport coutefficacite Ratable Ratable Value Rate Rate Anticipation Swap Rate Anticipation Swaps Rate Base Rate Book Rate Capping Rate Card Rate Covenant rate guarantee Rate Holder rate improvement mortgage Rate Lock Rate Making Rate of Change Rate of Effective Protection Rate of Exchange Rate of Interest Rate of Mudharaba rate of return rate of return of investment Rate of return ratios Rate Protection Rate Relief Rate Risk Rate Setting Rate Sheet Rate Support Grant Rate-lock selling Rate-Reduction Mortgage Rate/Point Break-Even Rate/Point Options Rated Down Rated Policy Rated Up Ratei e risconti passivi Rateio Rates and Classifications			Rate equation (chemistry) Rate Feasibility Problem rate feedback Rate fence Rate for assigned parking at apartment raised, tenants rights Rate Group rate guarantee Rate Gyro Assembly Rate Gyro Assembly-Left Rate Gyro Package Rate Gyro System rate gyroscope Rate Holder Rate Holders Rate Image Processor Rate Impact Measure rate improvement mortgage rate incorrectly Rate Input Form Rate Integrating Gyro Rate Integrating Gyro Assembly Rate integrating gyroscope Rate Limiting Queues Rate limiting step Rate limiting step Rate Lock Rate Locks Rate Making Rate Making Review Committee Rate Maximizing Power Allocation Rate Measurement Unit Rate Measuring Package rate meter Rate Modulation Transfer Function Rate Monotonic Rate Monotonic Analysis Rate Monotonic Analysis for Real-Time Systems Rate Monotonic Best Fit Rate Monotonic First Fit Rate Monotonic General Task Rate Monotonic Next Fit Rate Monotonic Scheduling Rate Monotonic Scheduling Rate Monotonic Small Task rate multiplier Rate My Network Diagram Rate My Teachers.com Rate Not Reported Rate of Accumulation Rate of Appearance Rate of Appearance of CO2

Financial Dictionary

Free Tools:	For surfers: Free toolbar & extensions \| Word of the Day \| Help For webmasters: Free content \| Linking \| Lookup box \| Double-click lookup

Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.