Buyers and sellers nationwide have been waiting for lower borrowing rates before making a move to re-enter the housing market. But timing this right is impossible, according to an industry expert.

The Federal Reserve on Wednesday cut interest rates for the second consecutive time, lowering the federal funds rate by a quarter-point. This could be the last cut before the end of the year as Fed Chair Jerome Powell signaled that another rate cut in December isn't guaranteed.

The meeting has raised questions about whether buyers should lock in a mortgage now or wait until the end of the year.

For nearly two years, mortgage rates have hovered near their highest levels in more than two decades, creating a significant barrier to entry into the U.S. housing market, slowing demand and making t

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