When Will Rates Drop?
Historically Mortgage Rates follow behind inflation. When Inflation is up, the Mortgage rates will go up afterwards. When Infation goes down, the mortgage rates go down as well. There is usually a bit of a delay. The good news is, Inflation has gone down. Mortgage rates are still up. Historically, this would be when they follow inflation by going down.
However, no one knows what will happen. The best advice I can give is do not try to time the market but keep an eye on what contributes to it and work with great people to help you make the best with the highs and the lows of the market as it happens.
We would love to be that professional team for you.