So I am applying by Novermber 1st EA/ED deadline, but does it matter when ahead of time I submit it? I was planning on applying in mid to late October but some have told me that the later you apply before deadline the lower your chances are. Is that true?
No, it is not. Apps are reviewed as a group starting after the deadline, and in no particular order within the group. After deadlines (EA, or regular admission) applications are reviewed in order with increasingly difficult standards since the openings are fewer and fewer.
Someone may have confused this with housing – accepting your offer does put you “in line” for dorm choice, so for that, time is a factor. But not in admissions as long as you’ve met the deadline.