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So you want to refinance, but mortgage rates are rising. Don鈥檛 worry 鈥� you haven鈥檛 missed the boat on your refi opportunity. Mortgage rates are still historically low, and they aren鈥檛 expected to exceed 5% in 2017, according to many economists and mortgage analysts.

Here are eight tips to help you successfully聽refinance your mortgage聽as rates rise.

1. Make your move fast

Even though rates aren鈥檛 expected to shoot through the roof this year,聽they鈥檒l likely stay on a steady, upward trajectory.

鈥淚f you鈥檙e thinking about refinancing, now probably is the time to do it,鈥� says Lauren Lyons Cole, a certified financial planner and money editor at Consumer Reports, adding that rates are probably not going to be lower than they are right now.

It鈥檚 worth doing your research to see what rate you can get and then acting swiftly before it鈥檚 too late.

2. Prepare in case rates drop

You鈥檒l want to get your refinance application in as soon as possible, not only to catch low rates before they rise, but also to avoid a backup in refinance applications should rates suddenly fall, according to Casey Fleming, author of 鈥淭he Loan Guide: How to Get the Best Possible Mortgage.鈥�

鈥淭his is the biggest mistake I think people make,鈥� Fleming says. 鈥淚f you鈥檙e not in the pipeline ready to go when the interest rates start moving down, all of a sudden you have to get in the back of the line, and oftentimes you miss the dip in the rates.鈥�

Fleming says that you鈥檙e not obligated to lock in a rate when you submit your application. You can wait and watch the market for as long as you want.

If you鈥檙e not ready to submit your application just yet, work on keeping your credit score up, have your financial documents ready to go, and save money for the upfront refinancing fees. Just remember that rates are rising slowly but steadily.

3. Make sure your credit score is in good shape

Acting fast on a refinance may not be worth it if your credit score isn鈥檛 in top shape. Your聽credit score聽plays a big part in the rate you can get on a mortgage. Just because low rates are out there doesn鈥檛 mean you鈥檒l qualify for them.

Lyons Cole says that, in some cases, your credit can be easily bolstered.聽鈥淚鈥檝e seen people鈥檚 scores go from the 500s up to the 700s in about three months just from [quick changes] on your credit report.鈥�

Some ways that you can聽work on your credit聽include checking your credit report for errors, paying your bills on time and keeping a safe distance from聽your credit limit.

鈥淢ortgage rates aren鈥檛 going to go up a full point between now and the next three months,鈥� Lyons Cole says. 鈥淭aking the time to get your credit score to a place where you qualify for the best possible rate could make a huge difference over the course of a 30-year mortgage.鈥�

4. Use rising home prices to your advantage

Along with rates, home values are rising. Now might be a good opportunity for you to tap into your home鈥檚 equity through a聽cash-out refinance. If you do so, proceed with caution.聽It鈥檚 risky to spend the proceeds from a cash-out refi on things that don鈥檛 rebuild your equity, like a聽car.

You can also access your home鈥檚 increasing value through a home equity loan or聽home equity line of credit.

5. Refinance into an ARM

Refinancing into an adjustable-rate mortgage in a rising rate environment can make sense since these loans tend to come with lower initial interest rates than fixed mortgages. They鈥檙e especially useful if you plan on staying in your home no longer than the fixed term of the loan.

Jenny Erdmann, a certified financial planner and vice president of Guide My Finances in San Diego, says that as long as an ARM makes sense for you and you鈥檙e aware of the聽drawbacks with this type of loan聽鈥� like the possibility that your rate may eventually increase 鈥� you should try to get the lowest rate you can.

6. Refinance to a shorter term

Refinancing into a shorter-term fixed-rate loan can save you money in two ways: the interest rate is lower than聽a 30-year fixed-rate loan, and the shorter term means you鈥檒l save more money over the life of the loan by paying less interest.

Here鈥檚 an example: Using NerdWallet鈥檚聽refinance calculator, we plugged in the numbers for a 30-year, $300,000 mortgage taken out in 2010 with a 4.75% fixed interest rate. We refinanced it to a 15-year mortgage with a 3.50% fixed interest rate. Savings equated to $52,975 over 15 years. While your original monthly payment of $1,565 would take on an extra $311 each month, you would save more money in the long run and build equity faster.

Take into account that if a 3.50% interest rate went up a quarter of a percentage point, your savings would decrease to $47,145 over a 15-year period, and聽your monthly payment would increase by $344.

7. Pay points

Before your loan closes, you鈥檒l have the option to聽pay points on your mortgage, which is paying money upfront, to聽permanently lower your interest rate. Fleming says that 鈥渋f the additional cost makes sense, then absolutely pay points.鈥�

While one point equals 1% of your loan amount, you won鈥檛 always have the option to pay in full points. The amount of money you have to pay to buy down your rate depends on the interest rate market, according to Fleming. He says that if the market is volatile, then you鈥檒l probably have to pay more to buy down the rate. But if the market is stable, then you鈥檒l pay less. Fleming says that it might make sense for you to wait until rates stabilize so you can pay less.

8. Refinance out of an ARM, HELOC

If聽you鈥檙e concerned about the interest rate rising on your adjustable-rate mortgage or on your home equity line of credit, refinancing to a fixed-rate product can allow you to lock in a new rate to聽make your monthly payments more predictable.

Fleming says that borrowers with a HELOC should聽watch out for the recast period. That鈥檚 when the draw period ends and you can no longer pay just the interest on the loan. Since rates are increasing, 鈥渁nybody with a HELOC should definitely look at their options,鈥� says Fleming.

Your options include calling your bank and seeing if you can switch your HELOC to a fixed rate, though the rate may go higher if you do. You can also refinance the HELOC into a聽home equity loan聽at a fixed rate. Another option is to refinance your first mortgage and wrap the second mortgage into it. However, Fleming says if you end up refinancing to a higher rate, this strategy wouldn鈥檛 make much sense.

Michael Burge is a staff writer at NerdWallet, a personal finance website. Email:聽mburge@nerdwallet.com.

This story originally appeared on NerdWallet.