Mortgage rates stick below 4 percent

Mortgage rates remain at historic lows despite a slight increase this week. 

The rate on a 30-year fixed home loan ticked up to 3.95 percent for the week ended Thursday, from 3.87 percent, Freddie Mac reported. 

The increase is the first in three weeks, but rates have remained below 4 percent for 12 straight weeks.

The average on a 15-year fixed mortgage also was up a tad to 3.19 percent from 3.16 percent. The record low was 3.14 percent three weeks ago.

Nothaft noted several other factors that show the housing market is improving, albeit slowly. 

Loans that were seriously delinquent — 90 days or more past due — fell to 5.3 percent of prime mortgages at the end of 2011, representing the lowest quarterly share since the start of 2009, according to the Mortgage Bankers Association. 

Sales of previously occupied homes hit their highest level since May 2010 — increasing 4.3 percent last month, according to the National Association of Realtors. 

Home sales are up about 13 percent in the last six months. 

The supply of homes on the market has hit its lowest level in almost six years, which could help spur price increases. 

The job market is also improving, with employers adding 243,000 net jobs in January, the most in nine months while the jobless rate dropped to 8.3 percent, the lowest level in nearly three years.