My lender is increasing my rate from 3.875% to 4.625% with 2 days to close escrow! They just notified me this morning and I was supposed to have this the 3.875% locked till end of month. Any advice on recourse? I’m asking for either a reduction in rate or points but they aren’t budging on either. : RealEstate

Edit: thank you to everyone pointing out I did not have this rate locked. I can see how that might have been the issue, but I have multiple documents from the lender saying I have the rate locked in until 3.10 and then again until 3.30.2022. They are claiming they only have locked in the Points I bought to reduce the rate, and have not been much help with meeting me halfway on the rate or the >$4k in loan costs (origination fee / wire fee / loan amount points). I really think something fishy is going on, and would love to hear suggestions that are not about me confirming the rate is locked or not.

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Update: I am moving forward with this piss poor rate the lender is forcing on me, and not paying any points on it. Given the limited time I have before closing, I am not comfortable engaging / paying for legal aid or prolonging COE to find a new lender that may provide me similarly bad terms + have me go through an appraisal / underwriting process. After the dust settles, I am going to

1. refinance with someone else

2. file a complaint with CFPB and CA Dept. of Financial Protection & Innovation in the hopes that they can retroactively fix my rate or reimburse me in some way

3. write multiple reviews on what transpired in the last few days of closing, on Google BBR Yelp Facebook etc, so that other prospective clients know that they need to stay away from this place.