Lock expiration question

I'm hoping someone can give me some insight here. We still have not closed on our refinance that we started in May. We were supposed to close last night, but the closer did not have any paperwork (i.e. the note, mortgage, loan payoff amount). I know, absolutely ridiculous!!!

So, the bank has been extending at no cost to us, because its the bank's fault for the delays. Our current rate extension expires on Tuesday, which has to extended again because we didn't close last night.

Current rates are lower than our locked rate. I have asked for the better rate and said that I'm willing to let the rate lock expire if that will get me the better rate. I have no doubt the bank is going to come back and say that they will extend it again with some sorry excuse as to why we can't get the better rate.

I want to be prepared when they call me back, can I let the rate expire or can the bank refuse my request and insist upon extending the lock?

Lock expiration question

You should have the right to refuse the rate lock extension. Read your loan documents. The rate lock terms should be there in writing.