Mortgage rates are expected to remain around 7%, with potential drops only straddling 6%. Buyers should focus on current housing prices rather than waiting for lower rates. To navigate high rates, ensure financial readiness with savings for a down payment, steady income, and a manageable debt-to-income ratio. Consider conservative budgeting methods and aim for a larger down payment to reduce interest costs. Negotiating with sellers for concessions and exploring government-backed loans can also provide financial relief.