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 December 17, 2018
Present Market Conditions
Attributed to Sam Khater, Chief Economist.
“The 30-year fixed fell to 4.63 percent this week – the lowest it has been since mid-September. Mortgage rates have either fallen or remained flat for five consecutive weeks and purchase applicants are responding with an uptick in demand given these lower rates. While the housing market softened in response to higher rates through most of this year, the combination of a low unemployment and recent downdraft in rates should support home sales heading into the early winter months.”
Expectations
The financial data for this week will be focusing on the housing market and the Fed Meeting. Tuesday starts things off with the Housing Starts data. Existing home sales will follow up when released on Wednesday. Wednesday also brings the Fed meeting. Most investors anticipate a 25 basis point increase in the rate. Friday finishes up this very busy week with the Core PCE price index (which is the favored inflation indicator for the Fed) and Durable Goods Orders information.
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 get take advantage of this great time to buy!
Be sure to check back each week for a new market script!
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