According to financial publisher HSH Associates, rates on 30-year mortgages are the lowest ever on record at 4.75 percent, making it a good time to buy a home or refinance.
But lending experts say it can be tricky because the markets are changing everyday and if you do find the loan at the interest rate you want, you shouldn't wait.
"With the volatility in the marketplace right now we suggest you find that low interest and lock it in. Don't wait to see if it will go up or down," Unifirst Mortgage Vice President Rick Hamm told 11 News on Monday.
Mortgage experts say even one-quarter of a percent on a $200,000 mortgage can mean a difference of $40 a month.
They say even if you lock–in a rate you still have 30 days to think about the loan before you sign the dotted line.