Deb Jones, senior vice president, director of secondary and capital markets, Citizens Bank, has been through a lot of business cycles during her long tenure as a mortgage executive but she thinks the current environment is unique in its challenges.

It's been characterized by a fast-moving spike in interest rates, inventory shortage and high housing valuations, but at the time of this writing it appeared the dynamic could change next year.

In the interview that follows, Jones looks back on 2023 and ahead to next year, drawing on her experience as head of the Mortgage Bankers Association Secondary and Capital Markets Committee and as an advocate for women in the business to inform her comments.