Prospective homebuyers are looking to the highly-anticipated interest rate cuts as a re-entry point back into the housing market. The coming of interest rate easements are believed to be a factor that could also cool mortgage rates.

Bank of America head of consumer lending Matt Vernon joins Wealth! to give his assessment of the current US housing market, along with tips for prospective homebuyers who may decide now is the time to start looking.

Vernon explains that the best time to buy is when the consumer is ready, both financially and emotionally, explaining that attempting to time the market is "never a good thing."

Vernon goes on to advise homebuyers to be flexible and they should be open to various home sizes and locations when entering the market.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Jeremy Moses.