A week after the Federal Reserve Bank announced it would wait to begin tapering off its $85 billion bond buying program, mortgage rates have dropped to their lowest level in two months, according to new data released by the Freddie Mac.

Freddie’s Primary Mortgage Market Survey showed 30-year fixed-rate mortgage rates averaged 4.32 percent for the week ending September 26, down from last week when it averaged 4.50 percent. A year ago at this time, the 30-year fixed averaged 3.40 percent.

The 15-year fixed this week averaged 3.37 percent, down from last week when it averaged 3.54 percent. A year ago at this time, the 15-year fixed averaged 2.73 percent.

The 5-year adjustable-rate mortgage (ARMs) averaged 3.07 percent, down from last week when it averaged 3.11 percent. A year ago, the 5-year ARM averaged 2.71 percent.

"These low rates should somewhat offset the house price gains seen the last number of months and keep housing affordability elevated," Frank Nothaft, vice president and chief economist for  Freddie Mac, said in a statement.