Rates for home mortgages continue to drop, with reports this week indicating that these are the lowest rates since the 1950s. The Federal Reserve released a chart this week indicating that the current rate of 4.58% is the lowest in 60 years. After the Fed report, rates fell again to 4.57%, making this an ideal time to refinance your existing home loans or to finalize a purchase to take advantage of these historically low rates. The reported rate is even more astounding when compared to the mid 1980s when rates soared to over 18%. These are the lowest rates that most of us have seen in our entire buying lifetimes.