Mortgage rates fell by the most in 41 years.

Mortgage rates fell by over a half-percentage point this week, the greatest weekly drop since November 1981.

According to Freddie Mac, which updated its rate-calculating technique this week

The average 30-year fixed mortgage rate fell to 6.61% from 7.08% the previous week.

The dip follows a big drop in the 10-year Treasury yield last week after official data indicated inflation eased last month.

The unexpected drop provided relief to price-constrained homebuyers and sellers who were still in the market

Encouraging activity in an otherwise slow market.

The difference in demand was enormous," Adriana Perezchica, head of Via Real Estate, told Yahoo Money, referring to the decline in rates.