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• A written agreement guaranteeing a homebuyer a specific interest rate on a home loan provided that the loan is closed within a certain period, such as 60 or 90 days. Often the agreement also specifies the number of points to be paid at closing.

  The Federal Reserve Board - Cite This Source - This Definition
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  Cite Definition for Lock-in agreement

  American Psychological Association (APA)

  Lock-in agreement. (n.d.). A Consumer's Guide to Mortgage Refinancings. Retrieved May 28, 2023, from website: http://www.expertglossary.com/definition/lock-in-agreement.

  Chicago Manual of Style (CMS)

  Lock-in agreement. www.federalreserve.gov. A Consumer's Guide to Mortgage Refinancings. The Federal Reserve Board. http://www.expertglossary.com/definition/lock-in-agreement (accessed: May 28, 2023).

  Modern Language Association (MLA)

  "Lock-in agreement." A Consumer's Guide to Mortgage Refinancings. The Federal Reserve Board. 28 May. 2023 http://www.expertglossary.com/definition/lock-in-agreement.

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