Before answering, I'd like to take the time to define the term as it's commonly used in reference to biblical hermeneutics: "the term can refer to the historical-grammatical method, a hermeneutic technique that strives to uncover the meaning of the text by taking into account not just the grammatical words, but also the syntactical aspects, the cultural and historical background, and the literary genre. It emphasizes the referential aspect of the words in the text without denying the relevance of literary aspects, genre, or figures of speech within the text (e.g., parable, allegory, simile, or metaphor" (Ryrie, Charles Caldwell (1995). Dispensationalism (Rev. and expanded ed.). Chicago: Moody Press. p. 224, p.81).
This form of biblical literalism is totally in keeping with the Scriptural command, "Ye shall not add unto the word which I command you, neither shall ye diminish ought from it, that ye may keep the commandments of the LORD your God which I command you" (Deut. 4:2).
The reason is this: the written Scriptures were always meant to be understood on their own terms. After we understand that Scripture really can interpret Scripture, that usage and internal context can accurately define meaning, then we can begin to get to an unleavened interpretation.
It's also worth noting that the Book of Deuteronomy was given to Israel by Moses reading it to them on one day, and by plastering it on large stones for all to read. Most surely at the onset there were not many copies of Deuteronomy, but the text was no doubt recited at the Tabernacle at least every Shabbat during the generation of Joshua. So you see the text is meant to be memorized by repeated in hearing or careful study. It is meant to be kept on your heart/mind. Further, this Law was not given to a nation of former college professors. It was given to a nation of former slaves. It's literal, I dare say common sense meaning, therefore, especially in respect to the laws concerning sacrifices, debts, servitude, property, diet, and the sabbaths, cannot be ignored (unless you think that's all been done away with and don't care). The Law is a system of right conduct. Outside its literal application to Israel in the Holy Land, it seems at times an anachronism to the modern student, and is therefore often over-allegorized, often with a stretched attempt to show 'how it points to Christ.'
To import a more accurate Christian interpretation (I think), the Kingdom of God will be restored in the land of Israel through Messiah the King (Jesus). It's at hand, and has been for a while (it comes is the twinkling of an eye after we die) and so a more literal application of the Torah is also at hand, and necessary now. Why? Well, most believing Christians will accept that all nations will be required to keep the Feast of Tabernacles in the millenial reign of Messiah (Zach. 14). Why not get a more literal understand of what it means to leave your comfy house and dwell like an Israelite in a booth made of palm trees (on the Biblical Feast of Tabernacles)?
Sometimes these literal commandments escape us. God wants us to have a hands on experience of His deliverance from bondage in our lives. That's why I recommend literally resting on the Sabbath. Literally living in a booth on Tabernacles. Literally purging your home of leaven for the feast of unleavened bread. It is a hands on way to make God's Word a tangible part of your life. It can literally help you interpret the Bible better. Indeed, the life of Messiah is clearly illustrated when we remember and participate in these feasts. I see them as a memorial of good things past, present, and to come. At the end of it, it's about remembering the fulness of what God has said. Literal interpretation forms the foundations on which the Righteous may stand. If those foundations be destroyed, what can the righteous do but over-spiritualize an inapplicable literal commandment?
That isn't to denigrate a more allegorical hermeneutic, just to point out that when we encounter much of the Old Testament as anachronistic old covenant stuff, we are left with few options to turn to but allegory. When we view the Torah commands as PART of the New Covenant (now written on our hearts as per Jer. 31:31-34), the whole Bible can now become more and more a part of our lives and make sense on its own terms.