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.
Mortgage rates have jumped to to 4.1% on a 30-year fixed mortgage from 3.5% a year ago. That's not much, but it does show that home loans are apparently more sensitive to interest rate hikes than we and others thought. So expect more increases, even if they're modest, in 2017.