Mortgage Contingency & Commitment Question

[Ken Sanders]

I have a pending house sale with a closing date of August 16th. The buyer's mortgage contingency mentions an interest rate of up to 4.5%, however their mortgage commitment states a rate of 4.6% (mortgage commitment date was yesterday).

Does this mean that they can still walk if they wanted to based on the mortgage contingency, or are they now bound since the contingency and commitment date have passed?