The CFPB also outlined its thought process, not to automatically require a revised CD by stating in the preamble: “In particular, the information disclosed in the credit estimate provided for in Section 1026.37(a)(13) on the terms of the instalment blocking agreement is not required in the final announcement provided for in paragraph 1026.38, so that a subsequent interest rate-setting agreement would not in itself require a corrected closing announcement, unless royalties and conditions become unclear. If you are looking for a mortgage, it is likely that you are buying from lenders the lowest interest rate and the lowest points and other anticipated fees. If you have found the most favorable terms and the desired lender, contact that lender. But if you reach an agreement, will you actually get the terms you asked for or negotiated? Or will you find out that the rate has changed – and your costs have gone up? What rate is calculated when the lock-in expires before billing – the rate applicable when the lock-in expires? Can you fluctuate your interest rate and points for now and lock them in later? Some lenders may lock in your rate as part of issuing a credit estimate, but others may not. Check at the top of page 1 of your credit estimate if and for how long your rate is blocked. Lenders may offer different options to determine the interest rate and points you are charged, for example. B: If your interest rate is frozen, it can still change if your claim changes – including your loan amount, creditworthiness, or verified income. Section 1026.19(e)(3)(iv)(D) of Regulation Z requires a creditor to prepare a revised credit estimate within three business days of the interest rate freeze date for a loan for which an initial LE was issued without an interest rate-setting agreement (signed). In other words, if a tariff was initially variable and is then blocked, a revised LE must be made available within three working days of the tariff closing. A lock-in, also known as a Rate-Lock or Rate Commitment, is a promise by the lender to maintain a particular interest rate and a certain number of points for you, usually for a certain period of time while your credit application is being processed. (Points are additional fees imposed by the lender and usually paid in advance by the consumer when invoicing, but can sometimes be financed by adding them to the mortgage amount. One point is 1% of the loan amount.) Depending on the lender, you can optionally lock in the interest rate and the number of points you will be charged when you apply, during loan processing, when the loan is approved, or later. .