Lock in interest rate?

The loan officer wants us to lock in the interest rate @ 4.875% today. Is this good enough offer? Also I have a question about locked in interest rate. If the interest rate drop down more let's say to 4.25%, can I change to the new rate? Somehow I have the impression that the locked in is lock up for the up limit but can go down freely. If that's the case, I should lock it in now. Thanks

所有跟帖： 

• know how is lock? -autumnmoon- ♀ (663 bytes) () 10/04/2009 postreply 09:15:04

• Thank you very much, learned a lot from you post. -花落花开- ♀ (0 bytes) () 10/04/2009 postreply 09:42:18