For the 11th time this year, mortgage rates hit their lowest level in the history of Freddie Mac’s Primary Mortgage Market Survey (PMMS), which dates back to 1971.

The 30-year fixed-rate mortgage posted a new record low this week, down to 2.80% from 2.81% the previous week.

“Mortgage rates today are on average more than a full percentage point lower than rates over the last five years,” said Freddie Mac Chief Economist Sam Khater. “This means that most low- and moderate-income borrowers who purchased during the last few years stand to benefit by exploring refinancing to lower their monthly payment.”

Read more: Are you prepared for the end of the refi boom?

The PMMS also showed that the 15-year fixed-rate mortgage dipped from last week’s average of 2.35% to 2.35%. The 15-year FRM averaged 3.18% at this time a year ago.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage was three basis points lower than last week, down from 2.90% to 2.87%. At this time in 2019, the 5-year ARM was 3.40%.

“Mortgage rates remain very low, providing homeowners who have not already taken advantage of this environment ample opportunity to do so,” Khater said.