I'm approved for a refinance of my mortgage, will rates drop so I can lock in?

I want to be at 4.375% interest rate (currently I am at 5.375%), I own a 0,000 Condo in California. My loan is for about 0,000. Will rates decline to get me to my desirable target? or should I hope and settle for 4.5% interest rate (planning on being in my place for over 5 [...] http://bit.ly/maD0sz