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 May 21, 2018
Present Market Conditions
Attributed to Len Kiefer, Deputy Chief Economist.
“The 30-year fixed mortgage rate edged up to 4.61 percent, which matches the highest level since May 19, 2011. Healthy consumer spending and higher commodity prices spooked the bond markets and led to higher mortgage rates over the past week,” he said. “Not only are buyers facing higher borrowing costs, gas prices are currently at four-year highs just as we enter the important peak home sales season.”
Added Khater, “While this year’s higher mortgage rates have not caused much of a ripple in the strong demand levels for buying a home seen in most markets, inflationary pressures and the prospect of rates approaching 5 percent could begin to hit the psyche of some prospective buyers.”
Expectations
This week looks to be full of housing data. New Home Sales statistics start things off with a Wednesday release. Thursday then follows-up with the Existing Home Sales data. Friday finishes up the week with the Durable Goods information. Treasury auctions will be taking place on Wednesday and Thursday. These auctions always have the potential to impact U.S. mortgage rates.
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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