Historically Mortgage Rates follow behind inflation. When Inflation is up, the Mortgage rates will go up afterward. When inflation goes down, the mortgage rates go down as well. There is usually a bit of a delay. The good news is that 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 not to try to time the market but to keep an eye on what contributes to it and work with great people to help you make the best of the highs and the lows of the market as it happens.
We would love to be that professional team for you.
