Can I lock my rate before finding a home?

Usually you lock once you have a property under contract, but some lenders offer a lock-and-shop program that secures a rate for 60 to 90 days while you house-hunt. It protects you from rising rates during the search.

Lock-and-shop sometimes costs a small fee or a slightly higher rate. If rates look likely to climb, it can be worth it. We'll tell you whether locking early makes sense given the market.

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