Market Script (PEG)

Market Script (PEG)

WEEKLY SCRIPTS ENABLING YOU TO FACILITATE DISCUSSION ABOUT THE MARKET WITH YOUR CUSTOMERS AND REFERRAL SOURCES.

What is PEG?

“What do you think rates are going to do?” This is a common question Loan Officers must frequently answer.

At XINNIX, we believe professional loan officers should respectfully and directly answer this key client question to ensure maximum customer satisfaction. Why? Because you never get a second chance to make an excellent first impression. The confidence, manner, content, and concise nature in which this question is answered is critical to gaining a customer’s “buy in”.

PEG is an acronym that stands for:

    • Present (current market conditions)
    • Expectations (industry expert’s forecast)
    • Guidance (personal, client specific advice)

When you exude personal confidence, communicate with clarity and provide brief, accurate and relevant market information to your clients, you will differentiate yourself as a true professional. Our weekly market script will help you consistently deliver a professional response to your client’s important market question and you will gain a tremendous opportunity to showcase your professionalism!

 

Week of December 19, 2022

Present Market Conditions

Attributed to Sam Khater, Chief Economist.

“Mortgage rates continued their downward trajectory this week, as softer inflation data and a modest shift in the Federal Reserve’s monetary policy reverberated through the economy,” said Sam Khater, Freddie Mac’s Chief Economist. “The good news for the housing market is that recent declines in rates have led to a stabilization in purchase demand.”

Expectations

This week will be relatively light regarding economic information, with the first major reports rolling in on Tuesday when the Housing Start data is released.  Wednesday brings us the Existing Home Sales, and Friday follows up with the New Home Sales data.  Friday seems to be the most eventful day of the week, with Durable Good orders and the Core PCE price index coming into play as well.  With inflation being a primary focus, that Core PCE report will be something to watch for.

Guidance

It’s a great time to be in the market for a mortgage as rates have improved and home prices are softening a bit!  You’ll want to make sure you take advantage of this great time to buy!

 

Week of December 12, 2022

Present Market Conditions

Attributed to Sam Khater, Chief Economist.

“Mortgage rates decreased for the fourth consecutive week due to increasing concerns over lackluster economic growth,” said Sam Khater, Freddie Mac’s Chief Economist. “Over the last four weeks, mortgage rates have declined three-quarters of a point, the largest decline since 2008.”

Expectations

The financial news for the week begins with the Consumer Price Index (PPI) being released on Tuesday. The CPI is a key Inflation indicator being closely watched these days. Wednesday then follows up with the next Fed meeting.  During this meeting, investors fully expect a 50 basis point increase to the Fed Funds Rate. Thursday will be another very busy day with the next European Central Bank meeting taking place. A 50 basis point increase is expected there as well. We will also see the release of the Retail Sales information on Thursday. This is always important since consumer spending makes up almost 70% of the economic data in the United States and is a key indicator of growth.

Guidance

It’s a great time to be in the market for a mortgage, as rates have improved and home prices are softening a bit! You’ll want to make sure you take advantage of this great time to buy!

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