The interest rate on your refinancing home loan sometimes can float, or vary, before closing. The best way to curb this, and end any sticker shock, is to ask your mortgage company for a written statement guaranteeing the interest rate and number of points. This is called a lock-in.

A lock-in rate provides assurance that your lender will not increase costs even if the rate goes up before your closing. You also can ask your lender to allow for an interest rate drop before closing, but to guarantee it will not raise the rate on your loan.

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