Mortgage Rates downward..,.

Chris Mesunas

Mortgage rates wander downward for the first time in three weeks

Win McNamee/Getty Images

Win McNamee/Getty Images

Fixed mortgage rates wandered downward for the first time in three weeks, according to the latest data released Thursday by Freddie Mac.

The 30-year fixed-rate average dropped to 4.42 percent with an average 0.7 point after climbing 24 basis points in the past two weeks. It was down from 4.46 percent a week ago but up from 3.32 percent a year ago. Since spiking to 4.58 percent in late August, the 30-year fixed rate has bounced around between 4.57 percent and 4.1 percent.

The 15-year fixed-rate average edged down to 3.43 percent with an average 0.7 point. It was 3.47 percent a week ago and 2.66 percent a year ago. The 15-year fixed rate has remained below 3.5 percent since late September.

Hybrid adjustable rate mortgages…

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