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 September 13, 2021
Present Market Conditions
Attributed to Sam Khater, Chief Economist.
“While the economy continues to grow, it has lost momentum over the last two months due to the current wave of new COVID cases that has led to weaker employment, lower spending and declining consumer confidence,” said Sam Khater, Freddie Mac’s Chief Economist. “Consequently, mortgage rates dropped early this summer and have stayed steady despite increases in inflation caused by supply and demand imbalances. The net result for housing is that these low and stable rates allow consumers more time to find the homes they are looking to purchase.”
Expectations
Major focus will continue to be on factors outside the financial markets as people continue watching for news on Covid cases around the world. On the financial front Tuesday brings the release of the Consumer Price Index. The Consumer Price Index (CPI) is a key indicator that lets us know if there are any inflation concerns. In addition to that Thursday will bring us the release of the Retail Sales information. This is always important since consumer spending makes up almost 70% of the economic data in the United States.
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 to take advantage of this great time to buy!
Be sure to check back each week for a new market script!
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