NEW YORK — Mortgage applications rose for a second week as demand for home purchase loans outweighed slower refinancing activity, an industry trade group said Wednesday.

The Mortgage Bankers Association says its seasonally adjusted index of mortgage application activity, which includes both refinancing and purchasing loans, increased 0.6% to 657.2 the week ended April 27 .

The four-week moving average of mortgage applications, which smooths the volatile weekly figures, was up 0.3%.

U.S. housing industry indexes, in general, tend to be volatile. Recently, they have painted a mixed picture, with some pointing to weakening and others to stabilization in the hard-hit sector.

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In this day and age, people get bad credit histories for all sorts of unforeseen reasons, apart from the old standard of living above one’s means. I know several people who have got into difficulties through either redundancy, prolonged illness or a car accident, divorce, or in fact one luckless fellow had all three situations arise.

Is it possible to get a loan even with a bad credit mortgage? In today’s mortgage and loan trends, a bad credit mortgage is absolutely possible.

In the past, applying for a loan involves a thorough check up on your credit history and income background. With the world wide web, it is virtually impossible to hide any defaults. If your history is less than perfect or if your income is not that high or both, then your application for a loan is instantly rejected. This practice limits the number of people who can apply for a loan.

Today’s market has adopted more flexible methods. Bad credit mortgages makes it possible for people with low credit scores to still apply for a loan and get approved.

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NEW YORK — Mortgage applications declined for the fourth straight week, as falling demand to refinance home loans outweighed a rise in applications to buy houses, an industry group said Wednesday.

Borrowing costs increased for all loan types last week, with the average rate on 30-year fixed-rate loans climbing to a six-week peak.

Thirty-year fixed home loan rates last week rose 0.03 percentage point to 6.16%, excluding fees, matching the rate of the Feb. 23 week, the Mortgage Bankers Association said.

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