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 rate increases dampen refinancing. With mortgage rates ticking up as investors anticipate the Federal Reserve raising interest rates in December, the cost of borrowing is increasing, and that's leading some new-home buyers to speed up their purchases, while discouraging homeowners from refinancing existing mortgages.