For several years, economists have cautioned that mortgage rates could rise as the U.S. economy continues its economic recovery. But to date, rates have stayed near historic lows -- in part due to volatility in China and uncertainty about the U.S. oil industry.

That's tempting many homeowners to refinance while rates are still favorable. Most refinancers seek to lower their monthly payments, while others want to do a "cash-out refi" to consolidate bills, buy a new car or tackle a major home improvement project.

Would refinancing be a wise move for you? That depends, says Keith Gumbinger, a vice president at HSH Associates, which tracks mortgage rates throughout the country.

"Before you do a refi, you've got to do the math. How much equity do you have in the house? What would it cost to do the new loan? And how long would your new term stretch out?" Gumbinger says.

Regrettably, there are still a fair number of would-be refinancers who can't take advantage of low mortgage rates because they have little or no equity in their property. But for potential refinancers with a positive stake, here are a few pointers:

-- Take your time in shopping for the right lender.

Since the financial downturn, the federal government has become increasingly involved in the mortgage market. The result is that government-backed mortgages now represent the bulk of all home loans made in the United States. Meanwhile, there's been a decline in the number of mortgage brokers -- intermediaries between consumers and bankers -- operating in the field.

"A lot of mortgage brokers are gone. But more of the brokers and lenders who are left are real pros in their field," says Guy Cecala, the CEO of Inside Mortgage Finance Publications, which publishes industry newsletters and reports.

More stringent lending standards mean homeowners face a greater risk that their mortgage application will be denied. To reduce your risk of rejection, Cecala urges you to choose your lender carefully.

"You always want to shop around, not only for the best possible rates and fees but also for a lender who offers good service and processing speed," he says.

-- Use referrals to help you select the best lender.

Unlike those seeking a mortgage for a home purchase, those seeking to refinance don't have the benefit of a list of lenders handed to them by a real estate agent. But there's no reason that refinancers can't also turn to local real estate agents.

As Cecala says, agents are in a good position to know which lenders will offer the smoothest and swiftest loan processing. After all, they work with lenders year after year and need to identify those most likely to get their deals to the finish line on time.

"Contact at least three different types of lenders before making your selection. Try to include on your list one mortgage broker, one major bank and one smaller bank or credit union," Cecala says.

-- Don't give out your Social Security number prematurely.

Of course, no quality lender will guarantee that your mortgage rate has been locked in without first pulling your credit scores. But that doesn't mean you should give out your Social Security number, a credit-score requirement, while you're still comparison shopping.

You shouldn't have to release your private information just for routine rate shopping. And getting your credit checked too often can hurt your scores.

"You need to be guarded about your private information," Gumbinger says.

-- Try to steer clear of "junk fees."

There are a number of costs and fees involved in refinancing, and only some of them are imposed by lenders. These lender-based fees include the cost for a home appraisal and a copy of your credit report. Also, other charges, often called "junk fees," are imposed by the lender.

To better protect consumers, the U.S. Department of Housing and Urban Development has set tighter rules to let borrowers compare lenders on the basis of their charges. As a result, HUD now requires lenders to give borrowers an early and accurate listing of their closing costs.

But Gumbinger says it's up to consumers to carefully compare a lender's charges before deciding whether to proceed. To do this, it's important to study a copy of the lender's estimate of closing costs. This standard form, which was recently updated by federal regulators, should list all the fees you'd pay at closing, with a very small margin for changes. The lender must give you this estimate shortly after you apply for a mortgage.

By carefully reviewing your estimated fees, you'll have a chance to ask for lower charges or to change lenders to get a better deal.

Though mortgage lenders face ever-stricter disclosure requirements in recent years, their fees have also climbed because of their heavier workloads, according to Gumbinger.

"Remember that what constitutes a junk fee -- versus a legitimate business charge -- is always in the eye of the beholder," he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

For most young adults, few financial trade-offs are more challenging than deciding between spending money on a magical wedding and saving toward the purchase of a first home. But consumer advocates say you can have both --assuming you plan ahead and set priorities.

Alan Fields, the co-author of books on both real estate and weddings, says in recent years the median cost of a traditional wedding has finally leveled off at $28,000. But in most popular neighborhoods, median house prices continue to rise, albeit at a slowing pace.

Fields, the co-author of "Bridal Bargains," says it's much easier for would-be homebuyers to hold the line on wedding expenses than to save for a home purchase. For your nuptials, the key is to plan ahead and keep powerful emotions from causing you to overspend on your big day.

Many first-time homebuyers can now obtain low-to-no-down-payment mortgages, as well as help with closing costs. But they still face cash needs to complete a housing transition -- from moving expenses to the cost of window coverings, paint, and basic furnishings.

"You can expect to spend at least 2 percent of the original price of the house within a year after moving in," says Fields, co-author "Your New House."

But there's no need to surrender the chance to buy a first home in order to have a memorable wedding. Here are a few pointers:

-- Ask your parents to help fund the house rather than the wedding.

Customarily, the bride's parents cover the cost of a wedding. However, as Fields says, many parents are just as willing to spend a similar amount to help their grown children fulfill their housing aspirations. Sometimes it's only a matter of asking.

Redirecting some of your parents' munificence away from the wedding and toward real estate could, for example, mean the difference between buying a condo-apartment and a detached house, Fields says.

-- Consider a faraway wedding as a possible money saver.

Within recent years, there's been a surge of interest in what are known as "destination weddings," which occur some distance from the couple's home turf, says JoAnn Gregoli, a long-time New York City-based wedding and events planner and co-author of "The Knot Guide to Destination Weddings."

While the idea of traveling to a distant location may sound expensive, for prospective homebuyers, one big (and often surprising) advantage of a destination wedding is the potential for substantial cost savings. Fields says much of the savings is due to the fact that fewer guests are likely to attend.

"The usual destination wedding involves just 15 to 20 close family members and friends, compared with 100 or more at your typical hometown wedding. This can translate into overall savings of 40 percent for the bride and groom --assuming they don't pay for the travel expenses of family members or guests," he says.

What's more, the marrying couple often honeymoon in the same location where the wedding occurs, meaning their transportation costs for the honeymoon will already be covered, he says. But Fields cautions that the choice of an exotic wedding destination, such as Bali, would quickly gobble up your cost savings, as would a long invitation list.

-- Look for savings on wedding flowers, reception costs and dresses.

During her many years as a wedding planner, Gregoli has noticed that the tab for flowers has risen steadily. One reason is that couples show an increasing preference for the kind of exotic flowers that must be custom-ordered and then flown in from vendors outside the country.

"When you start flying in exotic flowers, you're talking a lot more expense than if you use locally grown flowers that are in season when your wedding occurs," she says.

Gregoli says couples who choose flowers from abroad can run up a floral bill of $25,000 or more. In some housing markets, saving that sum could mean the ability to buy a home with one more bathroom than you could otherwise afford.

For money-conscious couples intent on buying a home, Gregoli says substantial savings can be found by limiting the time period an open bar is provided for guests during a wedding reception. You can slash your entertainment costs by using a DJ or a small music ensemble rather than a full band. And you can greatly reduce the expense of your wedding dress by finding one at a bridal consignment store or through an online vendor.

"You'd be amazed what wonderful secondhand dresses are available for a fraction of the cost of new ones," Gregoli says.

As long as you set priorities, Fields says the search for bargains won't undermine the quality of your wedding. He says most millennials -- young adults now in their 20s and 30s -- are more interested in having a meaningful wedding than an ostentatious event that costs a fortune.

"For many in this younger generation, the material chase is over. Events are important to them. But they don't perceive having a 'showoff' wedding as a key to their happiness," he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

Despite its prediction of "meager" economic growth in 2016, the National Association of Realtors is forecasting a modest increase in home sales for the year, along with slightly rising prices. But the emphasis is on the "slight."

"This year the housing market may only squeak out one to 3 percent growth in sales," says NAR chief economist Laurence Yun.

What does this forecast mean for you if you plan to sell your place this year? That depends on variables specific to your locale, says Eric Tyson, a personal finance expert and co-author of "House Selling for Dummies."

"You've got to get intelligence on the ground specific to your neighborhood," Tyson says.

He recommends you gather pricing opinions from at least three real estate agents who have a mastery of your market. Also visit other properties for sale in your same community to compare pricing and features, Tyson says.

Ronald Phipps, a real estate broker who's been in the business since 1980, underscores the importance of cleaning, de-cluttering and repainting to make the most of your sale.

Even so, Phipps, a former president of the National Association of Realtors, warns against excessive spending on pre-sale upgrades.

"When picking home improvements, you want to be pragmatic and practical," he says.

What commonly happens is that owners who try to recoup the cost of excessive pre-sale improvements find the price they're demanding too high. Because of that, their property will likely languish unsold for a lengthy period until they take a price cut.

Here are pointers for sellers:

-- Request from your listing agent a checklist of suggested improvements.

"Before you sell, the key is to distinguish between changes that give you a big bang for your buck and those that simply represent money burned," Tyson says.

To come up with a focused plan for pre-sale improvements, he urges home sellers to ask their agent for a written checklist.

Tyson also suggests that budget-conscious home sellers consider selecting an agent trained in the art of "staging" a home -- arranging furniture and decor to show the home in its best possible light.

-- Let go of any plans for a pre-sale addition.

For most sellers, it's not cost-effective to knock out walls to build an addition," Tyson says.

He says those who attempt a pre-sale addition rarely recoup more than 50 to 60 percent of the money invested. What's more, any construction project that involves the removal of walls can be very stressful and time-consuming.

"The only time homeowners are justified in doing a pre-sale addition is to replace one that was badly done or is an eyesore," Tyson says.

-- Limit your upgrades to your neighborhood's standards.

As your listing agent will likely tell you, your kitchen is a high priority area when it comes to pre-sale improvements. If it's a turnoff to buyers, many will pass on your place.

"But in your kitchen, as elsewhere in your house, the idea is to meet and not exceed neighborhood standards," Tyson says.

For example, you may need to replace the beat-up refrigerator in your kitchen. But replacing it with a basic refrigerator should be fine, unless your neighborhood's homes are all equipped with high-end, professional quality appliances.

Likewise, Tyson says replacing linoleum countertops with fancy granite makes little sense in a neighborhood of small, low-end starter homes.

Other, less-expensive changes are often justifiable no matter your price range. Worn kitchen cabinets can often be resurfaced or repainted for a reasonable sum. New cabinet hardware is usually worth the expense. And the replacement of badly worn kitchen flooring also bears consideration.

Still, there are limits on how much you should spend in your kitchen, even if you're living in a luxury community. In most areas, for example, you won't need to add an under-the-counter icemaker, a wine storage center or a second dishwasher," Tyson says.

-- Focus on your home's exterior.

The landscaping around your place is like the frame around a painting. It defines the entire image of the home.

But, as Tyson says, upgrading your landscaping need not be costly, assuming you're resourceful and don't inhabit a palatial estate.

"You'll want to trim your shrubs and you'll absolutely want to remove dead plants. A dead plant is a real turnoff," he says.

For replacement plants, Tyson suggests you turn to a local nursery for free guidance on plant selection and design. Or look to a helpful neighbor with a green thumb.

Most home sellers can dramatically improve the "curb appeal" of their property by cutting back or replacing any overgrown shrubbery. But no matter how majestic your property, you won't need to install exotic plants or dazzling fountains to make it sell.

"Ripping out your whole landscaping plan and starting over is almost never called for. When it comes to your yard, you can greatly improve its looks for relatively little money," Tyson says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)