rate lock
Mortgage Rates Jumped, 3‑Month Rate‑Lock Keeps First‑Time Buyers $12k?
A 3-month rate-lock at 6.48% can save a first-time buyer roughly $12,000 over the life of a 30-year loan, even if rates rise to 6.80% later. By locking in today, borrowers freeze their interest cost and protect monthly cash flow from tomorrow's market swing. Financial