 TITLE: When Should I Lock In My Mortgage Rate? CONTENT: Can I Unlock a Mortgage Rate if Interest Rates Drop?\n----------------------------------------------------\nA mortgage rate lock could either help or hurt you since your rate stays frozen in place whether market rates rise or fall. A frozen rate protects you if rates climb, but it also means missing out on lower rates if they go down.\nSome lenders offer a float-down option, which allows you to switch to the new, lower interest rate even if you've already locked in. But read the fine print first: You may pay extra for this option, and you may have to pay another fee if you opt to float down. It's important to do the math and ensure the potential rate savings is worth the cost of fees to lock and then float. END