What Does It Mean to Lock in Your Mortgage Rate?

• December 17th 2025

by UrbanTurf Staff

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Today, UrbanTurf offers a brief explanation of what it means to lock in an interest rate. 

When a homebuyer locks in a mortgage rate, that means they have agreed to a specific interest rate for a specified period of time with their lender, usually ranging from 30 to 90 days. This agreement ensures that the borrower will receive the same interest rate, even if market interest rates increase during that period. 

When a borrower applies for a mortgage, the lender will typically offer a quoted interest rate. However, this rate is not guaranteed until the borrower decides to lock it in. Once the rate is locked in, the borrower and the lender are bound to that rate for the agreed-upon period, even if market interest rates rise or fall during that time. If the borrower decides to delay the rate lock, they run the risk of the rate increasing, which could result in higher mortgage payments.

Locking in a mortgage rate may come with some fees or costs that vary depending on the lender and the terms of the loan. Additionally, some lenders may offer a rate lock that lasts longer than 90 days, but these longer locks may come with higher fees or a higher interest rate.

This article originally published at https://dc.urbanturf.com/articles/blog/what_does_it_mean_to_lock_in_your_mortgage_rate/20652.