If you've been waiting for inflation to drop ... low, and buyer demand is still high," says Jeremy Schachter, branch manager at Fairway Independent Mortgage Corporation. "As rates slowly come down ...

Even if rates don't drop much ... mortgage rates may trend down for the next year or two before settling in at a steadier rate in the following years. How low rates will go depends on the economy.

If rates fall that low, homebuyers might face a competitive housing market flooded with potential buyers who were waiting for rates to drop before ... rates will come down eventually, whether ...