Mortgage advice for 2013

Here are 10 mortgage tips to help you with your mortgage decisions in 2013.

1. Stop procrastinating and refinance. If you haven't refinanced recently, you're probably paying a higher interest rate on your mortgage than you should. Take advantage of today's record-low mortgage rates while they last.

2. Buyers, get moving. With rates near the bottom and home prices on the rise, it's still a perfect time to buy a house. Get a mortgage preapproval before you start shopping.

10 Mortage Tips for 2013

Here are 10 mortgage tips to help you with your mortgage decisions in 2013.

Tip 1: Stop procrastinating and refinance

If you haven't refinanced recently, you're probably paying a higher interest rate on your mortgage than you should. Take advantage of today's record-low mortgage rates while they last. Rates are expected to remain low during the first few months of the year, but they should gradually increase. When they do, many borrowers will regret having missed the opportunity to grab the lowest mortgage rate in history.

Tip 2: Buyers, get moving

With rates near the bottom and home prices on the rise, it's still a perfect time to buy a house. If you can afford a home and qualify for a mortgage, this may be your last chance to take advantage of the market and own a home for less. To speed up the homebuying process, get a mortgage preapproval before you start shopping.