SHREWSBURY, Mass. - If you missed out on the ultra-low mortgage rates earlier this year –- you may still have another chance.

Rates are falling again and the downward slide could pull some weary buyers back into the market with low rates.

The average interest rate on a 30-year fixed-rate mortgage fell to 2.88%, the lowest since mid-February and the third consecutive weekly drop.

The 15-year fixed-rate mortgage dropped to 2.22%.

While a monthly payment for the typical home is still more than $100 higher this week than a year ago, George Bosnakis, executive vice president at Drew Mortgage in Shrewsbury, says low interest rates give people more wiggle room.

"You can actually afford to bid and to overbid on houses because rates are so low and these are fixed rates,” Bosnakis said. “You've really built in some security with these rates that when the economy does really heat up and when inflation really, really ticks up and things start to cost a little bit more you have an interest rate that could be under 3% that you've got for the next 30 years of your life."

Bosnakis says as rent prices continue to rise, people may get a better deal getting mortgages with these low rates.

He says in most cases if you hold onto a property for 10 to 20 years you will see it go up a dramatic amount.