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hey everyone this is Ken Greene with Ken Lins calm thanks for tuning in todays topic is what is rate lock fed quite a few my clients ask what is a rate lock whats it for how does it affect me well basically a rate lock is an arrangement between you the borrower and the lender and you both agree to lock in the interest rate on the particular loan for a certain period of time now the time frame can vary could be could be as little as 10 days it could be as long as 180 days the most common time frame is about 30 30 day lock is the most popular now in some cases people do like to do a 45 day lock or a 60 day lock and that is fine just the laundry of the term of the of the lock usually you pay a little bit more in fee and that brings me on to another topic now some lenders can charge a rate lock feed but most lenders do not and the main purpose of a rate lock is to lock in the interest rate for cert period of time that way if theres fluctuations in interest rates up or down you are lock