Rate lock

Definition:

An agreement between the mortgage banker and the loan applicant guaranteeing a specified interest rate for a designated period, usually 60 days.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Public limited partnership

A limited partnership with an unlimited number of partners that is registered with the SEC and is available for public trading by broker/dealers.

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