The new year is starting with a gift to home buyers: lower-than-expected interest rates.

The 30-year fixed-rate mortgage averaged 3.73%, the lowest it’s been since May 2013, according to the Freddie Mac Primary Mortgage Market Survey. During the last week of 2014, the rate averaged 3.87%. It was as high as 4.51% a year ago at this time.

“Mortgage rates fell to begin the year as 10-year Treasury yields slid beneath 2% for the first time in three months,” said Frank Nothaft, vice president and chief economist at Freddie Mac.

The 15-year fixed-rate mortgage averaged 3.05% this week, down from 3.15% last week and 3.56% a year ago this time, according to Freddie Mac.

Likewise, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.98% this week, sliding from 3.01% last week. It was 3.15% last year this time, according to Freddie Mac.

The 1-year Treasury-indexed ARM averaged 2.39% this week, down from 2.40% last week. At this time last year, it averaged 2.56%, according to Freddie Mac.

The majority of experts polled by Bankrate.com believe rates will continue this downward trend. According to the Mortgage Rate Trend Index, 55% say rates will fall and 36% say rates will rise. The remaining 9% say rates will remain unchanged.