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 rates fell slightly this week, according to Bankrate's latest survey of interest rates. The benchmark 30-year fixed-rate mortgage fell 2 basis points to 3.93%. The average 15-year fixed-rate mortgage ticked down 1 basis point to 3.14%. A basis point is one-hundredth of 1%.