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.
That means that if the base rate goes up, the interest rates rise on commercial mortgages, loans, credit cards and savings accounts will too. The base rate of interest has been at the historically low rate of 0.5% since 2009 to help stimulate the economy following the financial crash of 2008.