The mountain of the Lord is understood to be the temple.
There are many reason why we as members of The Church of Jesus Christ of Latter Day Saints go to the temple. This verse explains just two: the temple is a place we can be taught of His ways, and we can walk in his paths.
Each of us, like the primary song suggests, is trying to be like Jesus. By going to the temple often we are taught about His ways, and in turn can be more like Him.
The phrase "we can walk in his paths" seems very literal to me. The temple is His house. He is there. We are walking where He is walking, it is hallowed ground.
In the past Mr Medic and I have tried to attend the temple once a week. If we wanted to we could walk to the temple, it is that close. Since having children our attendance has not been so frequent. But I would like to change that.
An online reference titled: "How Can We Make the Most of Temple Attendance?" tells us this:
When a temple is conveniently nearby, small things may interrupt your plans to go to the temple. Set specific goals, considering your circumstances, of when you can and will participate in temple ordinances. Then do not allow anything to interfere with that plan. This pattern will guarantee that those who live in the shadow of a temple will be as blessed as are those who plan far ahead and make a long trip to the temple.Ideally I would like to be going every week, but I think we may have to work back up to that. So, with the help of Mr Medic we will be setting a goal of how often we will go and on what day. I believe that when we make a specific plan we are more likely to stick to that plan.
If you know you have a birthday party to attend on a specific day, you do whatever it takes beforehand to be there, right? Same principle is true for attending the temple. If you set a specific day, you are more likely to plan your week or month around that special day that has already been set.
And, as if being able to learn of the Lord and walk in His paths isn't blessing enough from attending the temple:
...when we keep the temple covenants we have made and when we live righteously in order to maintain the blessings promised by those ordinances, then come what may, we have no reason to worry or to feel despondent. (link here)What a comfort to know that I have no reason to worry, no matter what happens. I know that if I attend the temple I can have that peace and reassurance.