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Lockinhosed

By Teri Karush Rogers | August 16, 2010 - 7:00AM 

Lock in hosed - adj. The state of being hosed by a reduction in interest rates following a lock-in agreement with one's mortgage lender.

Despondent over a 25 basis point decline in mortgage rates just two weeks after his lock in, Simon decided to sell his condo and rent so he would never be lockinhosed again.

Previous Words of the Week:

Shelter shock

Buy curious

Yellervator

 

See the entire Vertical Dweller's Dictionary.

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