People seem to forget the dire state of the economy when President Obama took office in 2009. They shouldnât. He received no help from Republicans at all, so it is virtually the case that he and the Democrats did everything themselves.
Depending on the company, the lockup period may be 90 to 180 days. It exists to ensure that the market is not flooded with shares in the company at any given time, which would increase supply and cause a drop in price.
A rate lock protects the borrower from rate fluctuations for the duration of the lock period. It guarantees that the lender will offer the borrower a specific combination of interest rate and points, according to Greg Cook, senior loan officer with Platinum Home Mortgage in Temecula, California.