Should I Lock My Mortgage Rate Today 2024. If you miss your closing. A mortgage rate lock, sometimes called rate protection, allows you to keep the interest rate on your home loan from rising between the time you apply for a.

Yesterday, federal reserve chair jerome powell confirmed market fears. While it was an excellent idea to fix your interest rate during the pandemic, with mortgage rates falling below 2 percent, the average mortgage rate in australia in 2023 is currently.