Finance
A 'rate lock' from a lender guarantees the borrower:
AApproval for the loan
BThat the interest rate will not change from the date of the lock until closing, for a specified period✓ Correct
CA lower rate than the market
DClosing within 30 days
Explanation
A rate lock commits the lender to hold a specific interest rate for a defined period (30, 45, 60 days) while the loan is being processed, protecting the borrower from rate increases during that period.
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