Mortgage - When to lock in?

[vmars]

My mortgage lender told me if I lock in at 45 days from closing I can get a 3.78% interest rate, but it will cost $370. If I wait until 30 days out I can get the same interest rate (so long as it doesn't go up) & it will cost me $0. Not sure how long I should wait. My attorney's office said most closings don't go off on time so I don't want to get stuck paying fees for not closing on time. WDYT? When did you lock in?

[Pom]

We locked in at 60 days (house deal fell through due to low appraisal) and the house we currently have under contract is 30 days. No fee for either. I would not pay to lock with rates as they are right now.

[boiler717]

Do you get that money credited to you at closing? We are building and locked already, but we have the opportunity to float down once and the money we paid for the lock goes toward our closing costs.

I wouldn't be too worried about rates going up that much.