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
The interest rate and fees have been agreed upon by both the lender and the borrower
A period of time during which a potential borrower and a lender have agreed to a specific interest rate
A guarantee the lender will extend the buyer a certain interest rate for a stated period of time
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
A specific guaranteed interest rate provided the loan is closed within a designated period of time