The Process

Should You Lock Your Interest Rate?

August 2025 · 4 min read

Mortgage rates can change daily. A rate lock freezes your interest rate for a set period while your loan is being processed, protecting you if rates rise before you close.

How locks work

Locks typically last 30 to 60 days, long enough to get from application to closing. If your rate is locked and market rates go up, you keep your lower locked rate.

The tradeoff

If you lock and rates fall, you are generally committed to your locked rate, though some lenders offer a one-time option to capture a lower rate. Longer locks can cost slightly more.

How to think about timing

Lock when you are comfortable with the rate and on a clear timeline to close
Avoid trying to perfectly time the market, which is nearly impossible
Talk to your loan officer about float-down options if you are worried rates may drop

We watch the market with you and help you decide when locking makes the most sense for your timeline.

This article is general education, not financial, legal, or tax advice, and not a commitment to lend. Loan programs, rates, and requirements vary by lender, county, and borrower and can change. Talk with a licensed loan officer about your specific situation.

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