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.
When interest rates rise, consider your home first. On a $200,000 mortgage, half of 1 percentage point of interest means a difference of $20,000 or more over 30 years. Financial advisers agree that if you are on the fence about buying or refinancing, now is the time to act.