Why isn’t my real estate loan’s APR locked?

Fee hike reveals weakness of Truth in Lending Act
Published on Dec 20, 2004

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by CareyBot

“Recently I locked my $100,000 mortgage at an interest rate of 5.75 percent and 1 point, with an APR of 5.94 percent. Now the rate is the same, but I’m told that the APR is 5.99 percent. I don’t understand ...