I'm in the process of looking into refinancing my home.
Let's say I talk to lender A and lock a rate of 3%.
Two days later, rates fall. If I hadn't locked, then lender A would currently offer me 2.9%.
Will lender A ever consider lowering the locked rate? If not, I can just go to another lender (lender B) and get the lower rate so it seems that it would be in the interest of lender A to lower the rate.