Only in the places where it is meant to be taken literally. The bible contains historical, poetic, and prophetic writings along with the gospels, letters / epistles. So you have to STUDY in order to properly interpret Scripture. You cant just pick it up and start guessing at what it means.
You also need to remember to read scripture through the eyes of the audience it was intended for. Most of the Laws in Leviticus, for example, do not apply to Christians today because it was written to the Jewish nation Israel, not Christian's. So when people ask why Christians don't follow OT passages, a lot of the time the answer is because it doesn't apply to us. It applied to a national people Israel and was completely fulfilled in Christ.
Now that's not to say that the book is irrelevant to Christians today. On the contrary, Leviticus demonstrates for us just how holy God is by not tolerating sin and requiring a payment (sacrifice) for our sin. This of course was a foreshadow of Jesus Christ who would come as the ultimate payment for our sin and is why the writer of Hebrews pulls so much from Leviticus.
So you have to interpret Scripture with Scripture and understand what the author was trying to communicate. Once you have established that, then you build the bridge from the truth that was originally being written to how it applies to us today.
Great Question and very important