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:
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- 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 August 18, 2019
Present Market Conditions
Attributed to Sam Khater, Chief Economist.
“The sound and fury of the financial markets continue to warn of an impending recession, however, the silver lining is mortgage demand reached a three-year high this week. The decline in mortgage rates over the last month is causing a spike in refinancing activity – as homeowners currently have $2 trillion in conventional mortgage loans that are in the money – which will help support consumer balance sheets and increase household cash flow. On top of that, purchase demand is up seven percent from a year ago.”
Expectations
This week looks to be relatively light for financial data. Wednesday will bring us the always important notes from the most recent Fed meeting that took place in July. These notes are always helpful since they can give hints regarding future Fed moves. Existing Home Sales statistics also have a Wednesday release. Friday finished up the week with the New Home Sales data.
Guidance
It’s a great time to be in the market for a mortgage! With rates still very low and the economy heating up, 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!
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