Why Rising Mortgage Rates May Be Your Ticket to Loan Approval

If you couldn’t get approved for a mortgage in 2021, you may have better luck this year.

Thanks to rising interest rates, buyers have better opportunities to be approved for a home loan.

This slowing demand creates an opportunity for homebuyers who may not have been approved for a mortgage previously.

Thirty-year mortgagerates crossed the 5% markfor the first time in seven years in April.

(Bankrate, like CNET, is owned by Red Ventures.)

Lenders relaxing credit standards can also help buyers with lower credit scores get approved for a home loan.

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