Can the rate change in the following circumstances when the rate was floating, the customer never locked the rate?
1. A CD is provided 8 days before closing. Rates increase before closing. Can the bank change the rate and provide a revised CD at closing (since the customer did not lock)?
2. CD is mailed 6 days before closing. Customer needs to reschedule so closing is postponed by a week. Rates increase (again the borrower did not lock), can the bank change the rate and provide new CD at closing?

1. If it causes your APR to be out of tolerance, you have to re-issue the CD and wait an additional three days.
2. See above

But to your initial question, the issuing of the CloD doesn't commit to the final rate. But if you do change the rate, you need to know when that will create an inaccurate APR situation, which will trigger the re-issue of the CD that Randy alludes to.

Thank you both. My discomfort was with changing the rate after we've issued the CD, it seems like that should be final, so thanks for the reassurance.