While I fully expect to see rates continue to rise as they did in 2018, conditions suggest that property values will not only cool off but actually decrease in select markets.

Rates have dipped at the start of the new year—just as they did in 2018. But, all indicators show that rates will continue to rise, even if not quite to the extremes some experts have predicted.

Yes, and no. Simply put, loan officers cannot sell the same way they have for the past 7 years. Loan officers who adapt to rising rates, shift to purchase, and understand Millennial borrowers will have little to fear and a lot to gain in 2019.

Looking at 2019, the number one challenge to overcome has to be containing costs per funded loan. Lenders will have to reduce their overhead and improve production to thrive in this market.

Despite all the challenges, 2019 will be one of the most opportunistic markets ever! Why? Too many lenders haven’t learned how to sell in a rising-rate, purchase-centric, Millennial-driven market. Which means those who have are going to crush it.

Technology is going to continue to have a major impact on the mortgage industry in 2019. Not only will it help companies be more efficient, it can and should help lenders (and MLOs!) improve their borrower experience.

In 2019, lenders have to focus on having the best in technology, staffing, lead generation and development, customer communications, borrower experience, and product offerings.

You are going to have to put your very best foot forward. That means being excellent in everything! Because excellence is what will set you apart from the competition—and If you stand out from the field in 2019, you will slay it!