Rates on a 30 year fixed rate mortgage fell to the lowest level seen since 1971, according to mortgage giant, Freddie Mac. Treasury yields are dropping as a move by the FED to throw more money into the economy is anticipated, as mortgage rates are closely tied in with long-term treasury bonds they are affected by the investors prediction.

Coming in at 4.27%, the mortgage rates have dropped from 4.32% the previous week. Due to their close relationship with long-term treasury bonds the rates can fluctuate significantly even on a given day.

Freddie Mac collects rates from lenders across the nation weekly Monday through Wednesday. Although the rates are the lowest seen in decades, they have proven to not have helped the struggling real estate market.

Rates on a 15 year fixed rate mortgage, which has proven to be attractive to refinancers, have dropped to 3.72% from 3.75% last week.