Market Script (PEG)
Weekly scripts enabling you to facilitate discussion about the market with your customers and referral sources.
Weekly scripts enabling you to facilitate discussion about the market with your customers and referral sources.
“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:
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!
Attributed to Sam Khater, Chief Economist.
“Purchase demand continues to tumble as the cumulative impact of higher rates, elevated home prices, increased recession risk, and declining consumer confidence take a toll on homebuyers,” said Sam Khater, Freddie Mac’s Chief Economist. “It’s clear that over the past two years, the combination of the pandemic, record low mortgage rates, and the opportunity to work remotely spurred greater demand. Now, as the market adjusts to a higher rate environment, we are seeing a period of deflated sales activity until the market normalizes.”
Major focus will continue to be on news pertaining to any anticipated future rate adjustments.
After several very busy weeks, this week will be a bit quieter. Monday kicks things off with the ISM national manufacturing index. Wednesday brings us the ISM national services index. Friday then finishes up with the always important monthly Employment report which details the number of jobs, unemployment rate, and wage inflation.
It’s a great time to be in the market for a mortgage! With rates still low and inventory growing, you’ll want to make sure you take advantage of this great time to buy.
Attributed to Sam Khater, Chief Economist.
“The housing market remains sluggish as mortgage rates inch up for a second consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “Consumer concerns about rising rates, inflation and a potential recession are manifesting in softening demand. As a result of these factors, we expect house price appreciation to moderate noticeably.”
This week will bring us quite a bit of information to take in. Major focus will continue to be on news pertaining to any anticipated future rate adjustments and the next Fed meeting scheduled for July 27th. Tuesday kicks things off when the New Home Sales and Consumer Confidence data is released. Wednesday then follows up with the Durable Goods numbers and Jerome Powell’s press conference. The 2nd quarter Gross Domestic Product (GDP) will be released on Thursday. Friday then brings us the always important Core PCE price index which is the favored inflation indicator for the Fed.
It’s a great time to be in the market for a mortgage! With rates still low and inventory growing, you’ll want to make sure you take advantage of this great time to buy.
Be sure to check back each week for a new market script!
Utilize our Value Added Pieces (VAPs) to further benefit your key referral sources’ business.