Q & A: How Long Should I Lock?

The length of the lock depends on the anticipated closing date of the transaction. 

A standard industry lock is generally 60 days but many times slightly lower interest rates can be negotiated for a shorter lock period of 45 or 30 days.  Interest rates are set by the banks who will be holding the mortgage and can vary daily, depending on a variety of national and global factors that affect both the stock and bond markets. 

Clients should work with their loan officer to determine a suitable lock period for each specific transaction. 

**Interest rates are at historic lows, so contact me today to see if I can save you money!**

Dawn Emerson

Office: 952.440.2451  Cell: 952.956.2077


Leave a Reply

Realize your comments are visible to the world, so avoid sharing your personal account information. Comments that are abusive, unlawful, off-topic, use vulgar or offensive language, include spam, or attacks of any kind will be removed.

Find what you're looking for...