Question on Loan Origination Fee

My closing on a $520k home in Huntington, LI is set for June 30th. My
down payment is $70k, $416k 1st mortage, and $36k 2nd loan. I opted a 7
year ARM, and Wells Fargo quoted 5.375%, after buying a point.

The cost of buying a point is 1% of the primary mortage mortage loan
(i.e 1% * 416,000), which equals $4,160 (I believe this is tax
deductible). By buying a point, how much am I saving on my monthly
payment? The bank advised that the fee for breaking this rate lock is
$2k. The new rate on my loan is then 5.5%, without the loan origination
fee. Is it advisable to break the lock and live with the slightly
higher rate?