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

Example Sentences

Dr Colin Church, who led an independent review of incineration for the Scottish government which resulted in the ban, said: “‘Lock-in’ is a real issue, the energy-from-waste sector swears blind it’s not, but it is.”

From BBC

Unlike other ways the government might provide aid after a disaster, flood insurance subsidy is a place-based recovery program that is designed to keep people in their communities, which can produce a lock-in effect.

From Slate

The result is the so-called “lock-in effect” keeping people from listing their homes for sale.

From Seattle Times

That’s because though more owners are coming to terms with high rates, many will likely choose to keep their sub-4% mortgages — a phenomenon known as the lock-in effect.

From Los Angeles Times

If mortgage rates noticeably decline, the lock-in effect could lessen and bring more homes onto the market.

From Los Angeles Times