Home > Terms > English, UK (UE) > Lock jumper

Lock jumper

A borrower, usually refinancing rather than purchasing a home, who allows a lock to expire when interest rates go down in order to lock again at the lower rate.

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  • Part of Speech: noun
  • Synonym(s):
  • Blossary:
  • Industry/Domain: Banking
  • Category: Mortgage
  • Company:
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  • Acronym-Abbreviation:
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