I locked a rate with my current mortgage lender a week ago. Since then, average rates have fallen between an eighth and a quarter point.
I asked my current lender about requoting the rate based on the fall of the last week, and I got a nonresponsive answer about how rates will rise so I should act now.
What I'd like to do is keep requoting and locking the rate periodically as they go lower, and only finish the application after they rise again. I also realize that the bank probably doesn't want to do it that way.
Any tips on following the rates down to make sure my refinance ends up locked at the bottom?