Mortgage credit availability increased in January as lenders modestly loosened underwriting standards, according to data released Tuesday by the Mortgage Bankers Association (MBA).

The MBA’s Mortgage Credit Availability Index (MCAI) rose 1.1% from December to a reading of 105.9, signaling slightly easier access to mortgage credit. The index is benchmarked to 100 in March 2012, with higher readings indicating looser lending standards.

Conventional loan availability drove most of the increase, rising 2.1% during the month. Availability of government-backed loans — which includes Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and U.S. Department of Agriculture (USDA) programs — edged up 0.1%.

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