According to the Mortgage Bankers Association’s Weekly Applications Survey, mortgage rates increased last week across all loan categories, including those with conforming and jumbo balances as well as those backed by the FHA. The increase resulted in a 2.1 percent dip in the Market Composite Index, which measures both purchase and refinance demand. The Purchase Index was down 1 percent, while the Refinance Index dropped 3 percent. The rise in rates follows the previous week’s decrease, which led to a nearly 10 percent spike in demand for mortgage loan applications. The MBA also released their monthly Mortgage Credit Availability Index this week. February’s results show a slight increase from the month before. It was the third consecutive monthly improvement and continues a two-year trend upward. After tightening following the financial crisis, mortgage-credit standards have been easing, making it possible for more would-be borrowers to obtain financing. More here and here.