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.
By LendingTree. That would likely occur when mortgage interest rates have declined at least half a percentage point to a full percentage point from the level they were at when you first acquired your mortgage. Say you started with a 30-year fixed rate mortgage of $150,000 at 5.5 percent but rates are now 4.5 percent. By refinancing at the lower rate, you would be able to save $91.65 on your monthly payments.