Rate lock extension fees can be quite costly, depending on how the market has shifted, making it important for you to try to close within the rate lock period. (valuepenguin.com)
If your rate lock has expired and rates have increased, you may have to pay extension fees to extend the rate lock period. (valuepenguin.com)
As discussed above, failure to close on time may result in costly extension fees. (valuepenguin.com)