lock-in

[lok-in]

noun

1. an act or instance of becoming unalterable, unmovable, or rigid.

2. commitment, binding, or restriction.

lock-in

noun

1. an illegal session of selling alcohol in a bar after the time when it should, by law, be closed

Word History and Origins

Origin of lock-in¹

First recorded in 1965–70; noun use of verb phrase lock in

Idioms and Phrases

Enclose, surround, as in The ship was completely locked in ice . [c. 1400s]

Also, lock into . Fix firmly in position, commit to something. This phrase often occurs as , as in She felt she was locked in a binding agreement , or Many of the stockholders are locked into their present positions . [Mid-1900s]

Example Sentences

Realtor.com’s Berner said expanding loan assumptions to mortgages backed by Fannie and Freddie could help ease the so-called lock-in effect, a term used to describe the reluctance of homeowners with ultralow mortgage rates to sell their homes.

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Hint: It’s not just the ‘lock-in effect’

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High interest rates impede home buying and home construction, a persistent lock-in effect has resulted in homeowners clinging to their 3% mortgage rates instead of selling, and sellers would rather delist their home than drop their asking price.

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That lock-in effect is keeping home prices stable — for now.

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But Kelman also framed the lock-in effect as a detriment to societal progress.

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Related Words

• apprehend 
• commit 
• detain 
• hold 
• incarcerate 
• jail 
• lock up 
• remand