NEW YORK (CNN) -- New York City is on course to mark the fewest homicides since records have been kept, Mayor Michael Bloomberg and Police Commissioner Raymond Kelly announced Wednesday. The city is expected to fall below 500 murders in 2007, the lowest level for any year since 1963, when comparable information on homicides was first collected, Bloomberg said at a news conference. "At the end of 2002, for the first time in four decades, murders in New York City fell below 600, and we were able to hold them below 600 for the next four years," Bloomberg said. "Today, with just five days of the year remaining, it appears that we have another historic achievement within our reach."