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MISSOULA - Gas home prices and interest rates have been dipping to low levels and more people are buying homes or refinancing to take advantage of the lower interest rates.

First Interstate Bank real estate manager Colleen Cebula said she doesn't think prices will be this low again in her lifetime.

"It just seems like a no-brainer," she said. "This is the time, if you have the savings, if you can make a payment on a mortgage, this is the time to do it. This is the ideal time to be purchasing."

She said shorter payment plans are more affordable than ever before and make the difference down the road.

"It's surprising when you look at how much a difference in the long term on how much interest you pay back and really, if you can afford a 15-year payment, or even a 20-year payment, that's the way to go."

Cebula crunched the numbers to prove it: on a $96,000 loan, the interest savings between a 15-year loan and a 30-year loan was $42,000. Borrowers are catching on.

"15-year loans are really gaining popularity because I think more homeowners and most consumers now-a-days have made the decision that they wanna be debt-free. They don't wanna be saddled with a mortgage payment for 30 years. It's too long," Cebula said.

Cebula said the sooner buyers pay off their house, the more money they'll have, in the long-run to put toward the things that make it a home.

"It's tremendous savings and yet the borrower's payment really doesn't change."

Before making any decisions, Cebula urges everyone to a lender, because there are times where it might not be a good idea to refinance. If that's the case, she said you might consider paying a little extra each month toward your home loan which will also save you money on your interest rate.