Rates have dropped .25 in the last week which is great news for Buyers along with dropping home Prices. Friday could change things so be careful when shopping for rates. Good buys are out there If You Make Them! The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay one of the highest rates in the country on their savings account, with no minimums, no fees.