01/19/2024
Ever heard of a 'rate lock'? Mortgage lenders often use industry lingo that can be confusing. Learn what a rate lock is, why it matters, and how it protects you in the dynamic world of changing mortgage rates.
Mortgage lenders, like pretty much any type of industry, have their own internal lingo. It’s certainly one that is difficult to understand, as certain facets of mortgage lending have no standard English equivalent. Many times, loan officers can use some of their own internal lingo with a client, m...