It's been a minute since we've seen mortgage lenders quoting rates that begin with a five, but that's where we are now. How long it will last is another story (one you'll have to keep reading to hear) ...

You can use falling rates to your advantage.

 The current average mortgage rate on a 30-year fixed mortgage is 6.21%, according to the Mortgage Research Center. The average rate on a 15-year mortgage is 5.37%, while the average rate on a 30 ...