Lock vs Float: Should You Lock Your Rate?

Compare the risks and rewards of locking your rate now vs floating

Loan Amount

Interest Rate

Loan Term

Use ShowTheRate to create beautiful, shareable mortgage comparisons for your clients.

Calculate the cost of locking your mortgage rate. Compare different lock periods...

Calculate if a float down option is worth it. See how much rates need to drop fo...

Calculate the cost of extending your rate lock. Understand extension fees and wh...

Frequently Asked Questions

Floating means not locking your rate, betting that rates will drop before you close. If rates rise instead, you'll pay more.

Lock when you're comfortable with the rate and can close within the lock period. In volatile markets, locking provides certainty.

Some lenders offer float-down options or will renegotiate. Otherwise, you're locked at your original rate.