By Dan Manginelli
It’s easy to sail a ship in calm waters.
When mortgage rates are low, buyers are plentiful, refinances are coming in, and Realtors are calling, almost everyone can feel like a great captain.
But you don’t really find out what kind of sailor you are until the storm arrives.
And right now, the mortgage and real estate industries are navigating some challenging waters.
As of September 10, 2026, Freddie Mac reported the average 30-year fixed mortgage rate at 6.76%, compared with 6.35% a year earlier.
At the same time, existing-home sales declined 2% in August to a seasonally adjusted annual rate of 3.98 million. Inventory increased to 1.62 million homes, representing a 4.9-month supply, the highest level in more than a decade. The median existing-home price was still up 1.6% from a year earlier at $429,100.
Think about what that combination means for a loan officer.
Consumers remain sensitive to rates and affordability. There are more homes available for buyers to consider, but transactions aren’t simply falling into your lap.
You have to create opportunities.
And this is exactly when accountability becomes so important.
You Don’t Need a Coach Only When Things Are Going Well
I’ve coached loan officers through many different mortgage markets.
One thing I’ve learned is that people sometimes think they need less coaching when business gets difficult.
I believe the opposite is true.
When the water gets rough, that’s when you want an experienced person beside you who has navigated storms before.
You want someone who can help you separate what you can control from what you can’t.
You can’t control mortgage rates.
You can’t control housing inventory.
You can’t control the Federal Reserve.
You can’t control what consumers hear on the news.
But you can control how many conversations you have today.
You can control how often you communicate with your database.
You can control whether you call your Realtor partners.
You can control whether you ask for introductions.
You can control your follow-up.
You can control your attitude.
And you can control whether you execute the plan you said you were going to execute.
That’s where coaching and accountability become incredibly powerful.
Hard Markets Expose Weak Systems
When the market is booming, weak habits can hide behind strong production.
Leads are coming in. Phones are ringing. Deals are happening.
But difficult markets expose everything.
Is your database organized?
Do you have a consistent referral strategy?
Are you having enough conversations?
Are you tracking your numbers?
Do you know where your business actually comes from?
Do you have systems for following up?
Are you building relationships every week, or are you waiting for people to remember you?
Most importantly:
Do you have someone holding you accountable to doing the things you already know you should be doing?
That’s the conversation I have with the loan officers I coach.
The Market Doesn’t Have to Improve for Your Business to Improve
This may be the most important point.
Too many mortgage professionals are waiting.
Waiting for rates to drop.
Waiting for buyers to come back.
Waiting for Realtors to start calling again.
Waiting for the market to become easier.
But what if it doesn’t get easier anytime soon?
The latest housing numbers show why waiting isn’t much of a strategy. August existing-home sales were down from both the previous month and the prior year, even while inventory increased and affordability improved from a year earlier.
So ask yourself:
What am I going to do differently?
Because somebody in your market is still closing loans.
Somebody is still building Realtor relationships.
Somebody is still gaining market share.
Somebody is still growing a database.
Somebody is still asking for referrals.
Somebody is using this difficult market to become better.
Why shouldn’t that person be you?
Storms Create Better Captains
There’s another side to difficult markets that we don’t talk about enough.
They create better mortgage professionals.
When business isn’t automatic, you learn how to prospect.
You learn how to communicate.
You learn how to build relationships.
You learn how to manage your time.
You learn your numbers.
You learn how to lead.
And you learn how to keep moving when circumstances aren’t perfect.
Those skills don’t disappear when the market improves.
That’s why some of the greatest opportunities for growth happen during the hardest markets.
Who Is Helping You Navigate?
Imagine you’re sailing through a serious storm.
Would you rather have someone next to you who has only sailed in calm water?
Or someone who has navigated storms before and can say:
I’ve seen this before. Here’s what we need to do next.
That’s what I believe coaching should provide.
Not motivation for an hour.
Not another sales idea you’ll forget next week.
Not someone simply telling you what you want to hear.
A proven process. A plan. Accountability. Perspective. And someone willing to challenge you when you’re drifting away from what you said you wanted.
Ask Yourself These Questions
What does your business need right now?
More leads, or better follow-up?
More Realtor relationships, or deeper relationships with the ones you already have?
Another piece of technology, or better execution with what you already own?
More hours, or greater discipline with the hours you already have?
More ideas, or someone holding you accountable for implementing the good ideas you already know?
And here’s the biggest question:
If the market stays exactly like this for the next 12 months, is your current business plan strong enough to get you where you want to go?
Don’t answer that question based on hope.
Look at your numbers.
Look at your activities.
Look at your pipeline.
Look at your relationships.
Then answer it.
You Can’t Control the Storm. You Can Control How You Navigate It.
Markets change.
Rates change.
Inventory changes.
Consumer behavior changes.
Successful mortgage professionals learn to change with them.
That’s why I believe accountability matters even more when business gets difficult.
Calm waters can make anyone look like a good captain. Storms reveal who knows how to navigate.
If you’re a mortgage professional looking at today’s market and thinking, “I know I’m capable of more, but I need a better plan and someone to hold me accountable to it,” then maybe it’s time for a conversation.
Don’t wait for calmer waters to start becoming a better captain.
Dan Manginelli
Mortgage & Executive Coach
The Manginelli Group
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