You may have heard that mortgage rates are down again. Get the full story about Rates for 30 year mortgages drop slightly this week. Yes, lately rates have been consistently low and attractive to experienced home buyers, first time home buyers and those that are thinking of refinancing their existing home.  If you already own a home, check the rate on your loan and compare with current rates. If there is more than a 1% difference between the current rate and the proposed lower rate, it could be worth replacing your loan with one at the lower rate.  Also, now is the time to buy a new or existing home because not only are prices low, but the low interest rates can be worth thousands of dollars of difference in the cost to own the home.  In fact, sometimes the interest rate is more of a key dollar concern than is the difference between the seller's asking price and the negotiated sales price of the home.  Ask your realtor and/or your mortgage lender to help you with questions about purchasing any particular home.