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 and savers' rates are at a historic low point, so they don't seem likely to go much lower, says Bernard Clarke at the CML. However, the courses of mortgage rates will be upwards at some stage, so borrowers need to think about how well prepared they are for that.People can't be complacent as we still don't really know when the first rate rise will come-expectations ebb and flow, he adds.owever, the courses of mortgage rates will be upwards at some stage, so borrowers need to think about how well prepared they are for that. People can't be complacent as we still don't really know when the first rate rise will come-expectations ebb and flow, he adds.