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 ratesâeven initial rates on adjustable-rate loansâwill grind higher in 2014, says McBride. Kiplingerâs expects the 30-year fixed-rate mortgage, recently just over 4.4%, to rise to 5% or 5.5% by year-end.