Mortgage Rates Drop, But Experts Warn Against Trying to Time the Housing Market
• Mortgage rates have fallen rapidly, but buyers shouldn't try to time the market and wait for lower rates
• "Timing the market is never good," says Bank of America's Matt Vernon - buy when you're financially and emotionally ready
• Between April and October, fewer prospective buyers were willing to wait for market improvement
• High prices and low inventory have driven down optimism about the housing market
• Further mortgage rate relief expected in 2023 when the Fed starts cutting interest rates