Are you trying to determine whether you should buy now or wait until mortgages rates begin to drop. Here are a 3 things you may want  to consider.

1. While rates are higher, that often leads to less competition when submitting offers.  A higher mortgage rate has some buyers choosing to wait right now.  Less competition gives you a better chance of having the terms of your offer accepted.  This also means that you have a better chance of getting things such as inspections agreed to, or maybe the closing timeframe you want.
2. Prices might be better than they will be when rates fall. In May of 2022 in the York/Lancaster area, sellers were getting about 105% of their original asking price.  Some were even getting $30,000 or more above the listed price.  In November of 2024 that number was down to about 101% still high, due to low inventory, but still an improvement over when rates were lower. 
3. You can always refinance. If you buy now you can get a home right around the asking price, and there are even several examples of homes going for under that asking price.  Sure, your interest rate is higher on the home, but more buyers and lower interest rates usually mean higher prices.

Let's assume a home is listed right now for $325,000, and your interest rate is 7.00%. 

With principal and interest you would pay around $1,946.00/mo.

But let's assume you wait until interest rates drop to 6.00%, (assuming they do) but now because of competition you have to offer $340,000 in a bidding contest for that same property, and maybe remove the inspection contingencies, as well as eliminate the leverage to negotiate any repairs if needed.

With principal and interest you would pay around $1,834.00/mo.  Wait a minute, that's still better than $1,946.00.  Right? True.

However, if after 18 months of paying the mortgage on the $325,000 offer at 7.00% let's assume that you can refinance the remaining balance at the now lower 6.00%, now your monthly payment is going to be around $1,575.00 for the principal and interest.

The numbers are estimated, but you can see the advantage of buying at the lower price even with the higher interest rate, and then refinancing.

There is an old adage in real estate, "marry the house, date the rate."

I get it.  It's terrible relationship advice, but when it comes to mortgages it just might work for you.