, Westchester County, NY
Your horizon (if you're in price negotiations right now) that its really impossible to predict. A few companies allow you to lock in with rate improvement, so if the rate comes down, you can re-lock at the new rate. I believe you can only do this once though. Long term, inflation is out of control, credit is still hard to get, and the spread between the 10 year treasury and mortgage rates is still extremely high compared to historical standards. So the fed funds rate will almost surely rise in the next 6-12 months, mortgage interest rates will probably follow that rise although likely at a slower pace, but that is not certain. Good luck and worry more about your purchase price and less about rates. Interest is tax deductible, and you can refinance at a later time if rates drop again. You're purchase price is forever.