Used in the context of general equities Assures that an individual contracts all his or her business with a sole broker by providing superior services, such as accommodating block buy and sell needs or preparing excellent research (soft dollar lock) This usually guarantees a certain volume of business
A period of time during which a potential borrower and a lender have agreed to a specific interest rate M Maintenance Fee A monthly assessment paid by members of a homeowners' association for repair and maintenance of common areas
If you lock someone in, you put them in a room and lock the door so that they cannot get out. Manda cried out that Mr Hoelt had no right to lock her in
place in a place where something cannot be removed or someone cannot escape; "The parents locked her daughter up for the weekend"; "She locked her jewels in the safe"
Prior to closing, allows the borrower to be assured a given rate of interest for a mortgage This usually involves paying a fee to the lender Mortgage rates not "locked in" are subject to changing market conditions
Guarantee of a given interest rate Generally most locks are from 30 to 45 days If you lock your rate, you are protected from a spike in the interest rates Under some conditions, if you lock and the rates drop, the better rate can be obtained
Allows the borrower to be assured a given rate of interest for a mortgage This usually involves paying a fee to the lender Mortgage rates not "locked in" are subject to changing market conditions