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The rates were even lower than the previous records set in January 2009. The rates are at the lowest point since Freddie Mac began tracking data on mortgage loans in the early 1970s. As the inventory of properties on the market remains high, many realtors, builders, investors and homeowners hold their breath to see if the historically low rates encourage some activity in the ailing market. One would assume that the low rates and significant drops in home prices in many markets in the country would be enough to get people buying again. But lenders have also adopted more restrictive lending practices as a result of the credit crisis and the economic downturn.