At this exact time last year the average rate for a home mortgage way 6.07% on a 30 year loan.
One of the largest buyers of home loans in the country reported that the national average rate on a 30 year fixed mortgage fell to an all time low since Freddie Mac has begun keeping track, of 5.10%.

Freddie Mac, one of the nation’s two largest buyers of home loans, said the average national rate on a 30-year fixed-rate mortgage for the week ended today fell to 5.10 percent with an average 0.7 point fee.

Of course you will typically need 20% or more down payment on the home, and a credit score of 700 or higher to lock in these all time low mortgage rates. Even still, you are very likely to be able to refinance your mortgage, or get a new one for a much better rate than was available just 5 years ago.
-RefinancingCondo.com

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