Mortgage rate dilemma

We have an accepted offer on a condo. As part of the counter offer it was on the issue of a closing date,as we had already sold our home (our closing date is April 4 and we will now be getting temporary housing in an apt) and the sellers of the condo have asked at this time for an end of June closing date. They didn't have it yet on the market and weren't thinking it would sell so fast. Anyhow,... [more]

We have an accepted offer on a condo. As part of the counter offer it was on the issue of a closing date,as we had already sold our home (our closing date is April 4 and we will now be getting temporary housing in an apt) and the sellers of the condo have asked at this time for an end of June closing date. They didn't have it yet on the market and weren't thinking it would sell so fast. Anyhow, we're in a dilemma as to do a 120 day lock, as 60 day lock in case the sellers find something sooner. There's the float option too. Then if they don't, an additional 30 day or 60 day lock? Or...just don't do anything at this point and wait until it gets closer to the time. There is always the chance that they might find something sooner and ask for an earlier closing. We were quoted a 5% rate with a 120 day lock. What would the difference be if we just waited until there is a set closing and just take what we get as far as the interest rate goes. Perhaps the rate would be at 5% then anyway. Advice on what to do with lock, not lock, market rate forecast, etc would be greatly appreciated. [less]