Absolutely, NOW is the time to BUY!
As of January 22, 2008 the rates are at an all time low. Seller's have reduced, reduced, reduced their prices. This will not last long. With such low rates Seller's will be able to wait for offers that meet their asking prices and eventually turn the market back to a Seller's Market.
Don't be the ones who missed out on one of the most historic Buyer Markets ever!