diff --git a/src/Loading.svelte b/src/Loading.svelte
index 0be01b705..7f662be36 100644
--- a/src/Loading.svelte
+++ b/src/Loading.svelte
@@ -4,6 +4,7 @@
   export let center = false;
   export let fadeIn = false;
   export let margins = false;
+  export let condensed = false;
 </script>
 
 <style>
@@ -34,6 +35,11 @@
     animation: sk-bouncedelay 1.4s infinite ease-in-out both;
   }
 
+  .spinner.condensed > div {
+    -webkit-animation: sk-bouncedelay-condensed 0.7s infinite linear both;
+    animation: sk-bouncedelay-condensed 0.7s infinite linear both;
+  }
+
   .spinner.small > div {
     width: 0.5rem;
     height: 0.5rem;
@@ -53,6 +59,21 @@
     animation-delay: -0.16s;
   }
 
+  @-webkit-keyframes sk-bouncedelay-condensed {
+    0%, 100% { -webkit-transform: scale(0.2) }
+    50% { -webkit-transform: scale(1.0) }
+  }
+
+  @keyframes sk-bouncedelay-condensed {
+    0%, 100% {
+      -webkit-transform: scale(0.2);
+      transform: scale(0.2);
+    } 50% {
+      -webkit-transform: scale(1.0);
+      transform: scale(1.0);
+    }
+  }
+
   @-webkit-keyframes sk-bouncedelay {
     0%, 80%, 100% { -webkit-transform: scale(0) }
     40% { -webkit-transform: scale(1.0) }
@@ -85,8 +106,10 @@
   }
 </style>
 
-<div class="spinner" class:fade-in={fadeIn} class:small class:center class:margins>
+<div class="spinner" class:fade-in={fadeIn} class:small class:center class:margins class:condensed>
   <div class="bounce1" style="background-color: var(--color-{color})"></div>
-  <div class="bounce2" style="background-color: var(--color-{color})"></div>
-  <div class="bounce3" style="background-color: var(--color-{color})"></div>
+  {#if !condensed}
+    <div class="bounce2" style="background-color: var(--color-{color})"></div>
+    <div class="bounce3" style="background-color: var(--color-{color})"></div>
+  {/if}
 </div>
diff --git a/src/base/projects/Browser.svelte b/src/base/projects/Browser.svelte
index 88cddcc04..b3ed5b204 100644
--- a/src/base/projects/Browser.svelte
+++ b/src/base/projects/Browser.svelte
@@ -11,13 +11,49 @@
   import Blob from './Blob.svelte';
   import Readme from './Readme.svelte';
 
+  enum Status {
+    Idle,
+    Loading,
+    Loaded,
+  }
+
+  type State =
+      { status: Status.Idle }
+    | { status: Status.Loading; path: string }
+    | { status: Status.Loaded; path: string; blob: proj.Blob };
+
   export let urn: string;
   export let commit: string;
   export let config: Config;
   export let path: string;
   export let org = "";
 
-  const onSelect = ({ detail: path }: { detail: string }) => {
+  // When the component is loaded the first time, the blob is yet to be loaded.
+  let state: State = { status: Status.Idle };
+
+  const loadBlob = async (path: string): Promise<proj.Blob> => {
+    if (state.status == Status.Loaded && state.path === path) {
+      return state.blob;
+    }
+
+    const isMarkdownPath = utils.isMarkdownPath(path);
+    const promise = path === "/"
+      ? proj.getReadme(urn, commit, config)
+      : proj.getBlob(urn, commit, path, { highlight: !isMarkdownPath }, config);
+
+    state = { status: Status.Loading, path };
+    state = { status: Status.Loaded, path, blob: await promise };
+
+    return state.blob;
+  };
+
+  const onSelect = async ({ detail: path }: { detail: string }) => {
+    // Ensure we don't spend any time in a "loading" state. This means
+    // the loading spinner won't be shown, and instead the blob will be
+    // displayed once loaded.
+    const blob = await loadBlob(path);
+    getBlob = new Promise(resolve => resolve(blob));
+
     navigate(proj.path({ urn, org, commit, path }));
   };
 
@@ -25,11 +61,11 @@
     return proj.getTree(urn, commit, path, config);
   };
 
-  $: isMarkdownPath = utils.isMarkdownPath(path);
-  $: getBlob = path === "/"
-    ? proj.getReadme(urn, commit, config)
-    : proj.getBlob(urn, commit, path, { highlight: !isMarkdownPath }, config);
+  // This is reactive to respond to path changes that don't originate from this
+  // component, eg. when using the browser's "back" button.
+  $: getBlob = loadBlob(path);
   $: getAnchor = org ? Org.getAnchor(org, urn, config) : null;
+  $: loading = state.status == Status.Loading ? state.path : null;
 </script>
 
 <style>
@@ -167,7 +203,7 @@
       {#if tree.entries.length}
         <div class="column-left">
           <div class="source-tree">
-            <Tree {tree} {path} {fetchTree} on:select={onSelect} />
+            <Tree {tree} {path} {fetchTree} {loading} on:select={onSelect} />
           </div>
         </div>
         <div class="column-right">
diff --git a/src/base/projects/Routes.svelte b/src/base/projects/Routes.svelte
index 77c989935..fceeb53df 100644
--- a/src/base/projects/Routes.svelte
+++ b/src/base/projects/Routes.svelte
@@ -4,26 +4,14 @@
   import type { Config } from '@app/config';
 
   export let config: Config;
-
-  const joinPaths = (path: string, glob: string): string => {
-    return glob.length > 0 ? [path, glob].join("/") : path;
-  };
 </script>
 
-<Route path="/projects/:urn/head/:path/*" let:params>
-  <View {config} urn={params.urn} path={joinPaths(params.path, params['*'])} />
+<Route path="/projects/:urn/head/*" let:params>
+  <View {config} urn={params.urn} path={params['*'] || "/"} />
 </Route>
 
-<Route path="/projects/:urn/:commit/:path/*" let:params>
-  <View {config} urn={params.urn} commit={params.commit} path={joinPaths(params.path, params['*'])} />
-</Route>
-
-<Route path="/projects/:urn/:commit" let:params>
-  <View {config} urn={params.urn} commit={params.commit} path="/" />
-</Route>
-
-<Route path="/projects/:urn/head" let:params>
-  <View {config} urn={params.urn} path="/" />
+<Route path="/projects/:urn/:commit/*" let:params>
+  <View {config} urn={params.urn} commit={params.commit} path={params['*'] || "/"} />
 </Route>
 
 <Route path="/projects/:urn" let:params>
@@ -32,20 +20,12 @@
 
 <!-- With an Org context -->
 
-<Route path="/orgs/:org/projects/:urn/head/:path/*" let:params>
-  <View {config} org={params.org} urn={params.urn} path={joinPaths(params.path, params['*'])} />
+<Route path="/orgs/:org/projects/:urn/head/*" let:params>
+  <View {config} org={params.org} urn={params.urn} path={params['*'] || "/"} />
 </Route>
 
-<Route path="/orgs/:org/projects/:urn/:commit/:path/*" let:params>
-  <View {config} org={params.org} urn={params.urn} commit={params.commit} path={joinPaths(params.path, params['*'])} />
-</Route>
-
-<Route path="/orgs/:org/projects/:urn/:commit" let:params>
-  <View {config} org={params.org} urn={params.urn} commit={params.commit} path="/" />
-</Route>
-
-<Route path="/orgs/:org/projects/:urn/head" let:params>
-  <View {config} org={params.org} urn={params.urn} path="/" />
+<Route path="/orgs/:org/projects/:urn/:commit/*" let:params>
+  <View {config} org={params.org} urn={params.urn} commit={params.commit} path={params["*"] || "/"} />
 </Route>
 
 <Route path="/orgs/:org/projects/:urn" let:params>
diff --git a/src/base/projects/Tree.svelte b/src/base/projects/Tree.svelte
index f63125deb..d4554accf 100644
--- a/src/base/projects/Tree.svelte
+++ b/src/base/projects/Tree.svelte
@@ -10,6 +10,7 @@
   export let fetchTree: (path: string) => Promise<Tree>;
   export let path: string;
   export let tree: Tree;
+  export let loading: string | null = null;
 
   const dispatch = createEventDispatcher();
   const onSelect = ({ detail: path }: { detail: string }): void => {
@@ -29,7 +30,7 @@
   {:else}
     <File
       active={entry.path === path}
-      loading={false}
+      loading={entry.path === loading}
       name={entry.info.name}
       on:click={() => onSelect({ detail: entry.path })}
     />
diff --git a/src/base/projects/Tree/File.svelte b/src/base/projects/Tree/File.svelte
index ed910afaf..f3d9f5d02 100644
--- a/src/base/projects/Tree/File.svelte
+++ b/src/base/projects/Tree/File.svelte
@@ -12,7 +12,7 @@
     border-radius: 0.25rem;
     cursor: pointer;
     display: flex;
-    flex: 1;
+    justify-content: space-between;
     line-height: 1.5em;
     margin: 0.125rem 0;
     padding: 0.25rem;
@@ -44,12 +44,10 @@
 </style>
 
 <div class="file" class:active on:click>
-  {#if loading}
-    <div class="spinner">
-      <Loading small />
-    </div>
-  {:else}
-    <!-- Nothing -->
-  {/if}
   <span class="name">{name}</span>
+  <div class="spinner">
+    {#if loading}
+      <Loading small condensed />
+    {/if}
+  </div>
 </div>