Mortgage rates fell to yet another record low last week, for the eleventh time since the beginning of the year.

The average interest rate on a 30-year fixed-rate mortgage fell to 2.8%, according to Freddie Mac. That’s the lowest level in the nearly 50 years of the mortgage giant’s survey. The 15-year fixed-rate mortgage dropped to 2.33%.

“Mortgage rates remain very low, providing homeowners who have not already taken advantage of this environment ample opportunity to do so,” said Sam Khater, Freddie Mac’s chief economist.

Today’s rates are, on average, more than a full percentage point lower than they have been over the past five years, he said. “This means that most low- and moderate-income borrowers who purchased during the past few years stand to benefit by exploring refinancing to lower their monthly payment.”

The challenge for buyers is less about getting a low rate and more about finding a suitable home.

“The number of available homes for sale declined 38% last week, compared with a year ago, as the number of buyers in the market remains unseasonably high,” said George Ratiu, senior economist.

The median home price in September rose by 15% from last year, and was up 9% from August, according to the National Association of Realtors, and inventory is at historic lows.

“With prices still rising by double-digits, buyers are finding that price gains are outpacing their wage growth and stunting their borrowing potential,” said Ratiu.