Mortgage rates are at a 37 year low after falling for the past three months.
But some local experts are saying that's a good thing for the Panhandle.
One mortgage broker we spoke with today said even if you save one or two hundred dollars a month, a new mortgage or refinancing is worth looking in to.
Interest rates are crawling below five percent and some people are already taking advantage.
"If they're looking at buying a home in the near future maybe it's time to do it now," said Kay Kuhn, the Senior Vice President of Happy State Bank.
The rates can change on a daily basis, but for the past nine weeks they've continued to fall.
But the best option to save you money may be different than your neighbors.
"I always tell my people lets run the scenario through to see what kind of rate we can get because I want to promise something I can deliver," said Ed Guerra Jr. the branch manager at Southwest Funding
"There's so many factors involved and it's so individual if it's a good thing to re-finance or not," said Kuhn.
Things like credit score and loan amount can greatly alter the low-rate you may be hoping for.
And a new mortgage may be a better option than refinancing.
Several people are finding out they can upgrade to a newer, bigger, better home for the same cost.
Kuhn says there's a good rule to consider if you do go the route or refinancing.
"Usually if you can recoup the costs of refinancing in 24 months. Then it's beneficial to do it."