 TITLE: When Should I Lock In My Mortgage Rate? CONTENT: What Happens if My Rate Lock Expires?\n-------------------------------------\nWhen you lock in your mortgage rate, it's not indefinite—it can be anywhere from 15 to 60 days, sometimes longer. You should aim for a long enough period to cover the loan closing. If you think your lock-in period won't be long enough, ask your lender if you can switch to a longer one or extend your rate lock—just be aware that some lenders charge a fee for this.\nIf your rate lock expires and you don't extend it, you'll likely have to pay the mortgage rate that's current as of closing, which could be higher or lower than the locked rate. Keep in mind that if you do get stuck with a high rate and rates drop significantly in the future, there's always the possibility of refinancing. END