Brendan,

There may or may not be real costs involved and you should speak with the person who locked your rate to be sure.

And after doing that but before walking, imagine a scenario where the lender with whom you eventually lock decides one day that because rates have gone up, he's going to bail on your lock. If you don't quite like the sound of that, maybe you view your current arrangement with a new sense of commitment and value.

Good luck with your decision.

Respectfully,

Rob Spinosa
rspinosa@mortgagemasterinc.com