In an article dated March 1, 2013 in “Mortgage Daily News,” writer Jann Swanson reported, “Freddie Mac's net income increased by 55 percent in the fourth quarter of 2012 primarily due to a decrease in newly delinquent loans and an improvement in home prices.  The company reported net income on Thursday of $4.5 billion compared to $2.9 billion in the third quarter of 2012.”

Good news and one of the positive signs for our Chevy Chase, MD, Chevy Chase, DC, and Foggy Bottom neighbors that the recovery is progressing in the right direction.  Here are this week’s mortgage interest rates:

The 30-year fixed rate this week is at 3.40%, with 0.8 points, which is down .01% from last week with points increasing from last week’s 0.7.

The 15-year fixed is at 2.61%, with 0.7 points, down slightly from last week’s 2.64% rate with no change in points.

5 year ARMs are at 2.58%, with 0.5 points, down slightly on the percentage from last week’s 2.60%, with points remaining unchanged.

1 year ARMs are at 2.62% this week with 0.3 points, down slightly from last week’s 2.63%.  Points were lower as well from last week’s 0.4.