All About Mortgage Lock-Ins
In most cases, the terms you are quoted when you shop among lenders only represent the terms available to borrowers settling their loan agreement at the time of the quote. The quoted terms may not be the terms available to you at settlement weeks or even months later. Therefore, you should not rely on the terms quoted to you when shopping for a loan unless a lender is willing to offer a lock-in. For more information on Mortgage Lock-Ins click the link below:
http://www.federalreserve.gov/pubs/lockins/default.htm