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.
If you worry that rising interest rates will make it impossible to afford your first home, consider getting an adjustable-rate mortgage, or ARM. A 5/1 ARM starts out with a rate that stays fixed for the first five years. Then, the rate adjusts annually after that.