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1. You've made an offer and are in contract. It just makes sense since you'll be expected to close within a few weeks. We offer 30, 45, and 60 day-lock. Longer lock time should be considered on a case by case basis since the premium could add up quickly.

2. Rising interest rate environment. It interest rates are trending upward, you should lock in sooner rather than later before rates spiral higher.

3. Interest rates are volatile - defined as more than 250 basis points (0.25%) movement in either directions within a short period of time.

4. You on the cusp of not qualifying for your loan should rates go any higher. Rates move in tandem with DTI - a major criterion for your loan approval. Any rate increases may push you above the maximum approveable DTI.