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At the MBA Annual Convention, it was clear to me that our industry has a fighting spirit. We’ve all seen the market go up and down over the years. While this market is unique in countless ways, we know that high interest rates won’t last forever—and most people seem to be planning for it. We also know that market declines come with new opportunities that many are wisely exploring.

At the convention, the MBA’s chief economist, Michael Fratantoni, spoke of where we are and where those opportunities exist. While interest rates are certainly not helping the refi market, Fratantoni pointed out that with home values at record highs, there’s a big, untapped opportunity in home equity lines of credit. Plus, he anticipates that rates will drop to 5.7% by 2023 and 4.5% by 2024.

Delinquency rates are another area to watch. While they’re currently low, they could rise as inflation makes household budgets tighter, which in turn will drive the need for all sorts of new products and services.

Market declines are seen by many as a time of contraction, while others view them as a time of opportunity. Now is when the herd thins and the ones with vision emerge even stronger. As one VP of sales told me, “In times like these, whatever you do, don’t reduce your marketing budget—you should make it bigger.”

His attitude explains why my agency is seeing a significant rise in demand from prospects. Last year they were drinking from a firehose. Today, they are focusing on strategizing, positioning and marketing for future success. Are you doing the same?

If you’d like a complimentary consultation on how marketing, public relations and social media can help your business grow, reach out to us at or give us a call at (305) 971-6239. We’d be happy to be of assistance.


By Rosalie Berg, President, Strategic Vantage

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