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.
Forecast-Chart.com is forecasting a probability of 8.9% that the 30 Year Mortgage Interest Rate will be higher in 5 years. The table shows a probability of 90.7% that the rate will be lower in 5 years. (October, 2019 rate compared to the October, 2014 rate).