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.
Why interest rates are going to rise. For two years, mortgage interest rates have confounded the experts -- falling to new lows despite predictions they would rise. Top economists still expect rates to reach or exceed 4 percent by the yearâs end and soar to 4.5 percent or even higher in 2017.