Luck refers to that which happens to a person beyond that person's control. This view incorporates phenomena that are chance happenings, a person's place of birth for example, but where there is no uncertainty involved, or where the uncertainty is irrelevant.
Average rates on 30-year fixed-rate mortgages have climbed in recent weeks by about a quarter-percentage point, from 3.75 percent to almost 4 percent â about a $600-a-year difference on a $350,000 mortgage. Several sources of data suggest that buyers are paying more attention to the threat of higher rates.
Remember, when the economy is struggling interest rates are kept low to stimulate growth. Mortgage rates were expected to rise sooner. But the Federal Reserve, headed by Janet Yellen, is balancing â not raising â rates too early to prevent harming a still delicate economy and housing market.