The exact lock period may vary, but typically you can lock in a mortgage rate for 30 to 60 days. If the rate lock expires, you’re no longer guaranteed the locked-in rate unless the lender agrees to extend it. All loans assume a single-family residence, refinance loan, mortgage rate lock period of 45 days in all states except NY which has a rate lock period of 60 days and customer profile with excellent credit. Today's Mortgage Rates Rates effective as of 9:08 AM CT and subject to change at anytime. Get your rate, and you could lock it in for up to 60 days. † These rates and monthly payments are based on a $300,000 mortgage. Lending limitations such as property state and loan amount may apply. For a traditional mortgage, you can generally lock in your rate for 15 to 60 days or more. If you’re getting a construction loan to build a home, you may be able to lock in your rate for. A mortgage rate lock guarantees that your loan’s interest rate won’t increase between the time you secure the lock and your closing day. Initial rate locks usually last 30 to 60 days and are frequently included without separate fees, though extended locks or lock extensions may cost extra. Most lenders offer rate locks for 30 to 60 days, though some provide longer periods of up to 120 days or more, especially for complex transactions like new construction. What is a mortgage rate lock? Learn lock periods, float-downs, extensions, fees, and when it’s best to lock your rate. See today's 30-year mortgage rates. Includes fixed 30-year mortgage rates for FHA, VA, and conventional loans, plus advice to find your best rate. Quick answer: If the payment at today's rate works for your budget and you're inside your closing window — lock. A mortgage rate lock freezes your interest rate and points for a set lock period, typically 30, 45, or 60 days, so market moves can't touch your deal while it closes. Ready to Lock Your Best Mortgage Rate? Don't let rising rates cost you thousands. Get personalized rate quotes from top lenders and lock in your best rate today.