diff --git a/src/policy/mempool_fees.h b/src/policy/mempool_fees.h
index 8f5a2268842912..929edd31cd70e0 100644
--- a/src/policy/mempool_fees.h
+++ b/src/policy/mempool_fees.h
@@ -9,6 +9,7 @@
 #include <chrono>
 #include <map>
 #include <optional>
+#include <shared_mutex>
 #include <string>
 
 #include <logging.h>
@@ -21,22 +22,35 @@ class CTxMemPool;
 // mempool condition might likely change.
 static const unsigned int MAX_CONF_TARGET{3};
 
-// Cache mempool-based feerate estimates to avoid repeatedly running the
-// expensive block-building algorithm.
+/**
+ * CachedMempoolEstimates holds a cache of recent mempool-based fee estimates.
+ * Running the block-building algorithm multiple times is undesriable due to
+ * locking.
+ */
 struct CachedMempoolEstimates {
+
 private:
+    // shared_mutex allows for multiple concurrent reads, but only a single update
+    mutable std::shared_mutex cache_mutex;
     static constexpr std::chrono::seconds cache_life{30};
     std::map<uint64_t, CFeeRate> estimates;
     std::chrono::steady_clock::time_point last_updated;
 
     bool isStale() const
     {
+        std::shared_lock<std::shared_mutex> lock(cache_mutex);
         return (last_updated + cache_life) < std::chrono::steady_clock::now();
     }
 
 public:
+
+    CachedMempoolEstimates() : last_updated(std::chrono::steady_clock::now() - cache_life - std::chrono::seconds(1)) {}
+    CachedMempoolEstimates(const CachedMempoolEstimates&) = delete;
+    CachedMempoolEstimates& operator=(const CachedMempoolEstimates&) = delete;
+
     std::optional<CFeeRate> get(uint64_t number_of_blocks) const
     {
+        std::shared_lock<std::shared_mutex> lock(cache_mutex);
         if (isStale()) return std::nullopt;
         LogPrint(BCLog::MEMPOOL, "CachedMempoolEstimates : cache is not stale, using cached value\n");
 
@@ -47,8 +61,9 @@ struct CachedMempoolEstimates {
         return std::nullopt;
     }
 
-    void update(std::map<uint64_t, CFeeRate>& newEstimates)
+    void update(const std::map<uint64_t, CFeeRate>& newEstimates)
     {
+        std::unique_lock<std::shared_mutex> lock(cache_mutex);
         // Overwrite the entire map with the new data to avoid old
         // estimates remaining.
         estimates = newEstimates;