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 April 12, 2021
Present Market Conditions
Attributed to Sam Khater, Chief Economist.
“After moving up for seven consecutive weeks, mortgage rates have dropped due to the recent, modest decline of U.S. Treasury yields,” said Sam Khater, Freddie Mac’s Chief Economist. “As the economy recovers, it should experience a strong rebound in the labor market. Combined, these positive signals will continue to bolster purchase demand. The drop in rates creates yet another opportunity for those who have not refinanced to take a look at the possibility.”
Expectations
Major focus will continue to be on factors outside the financial markets as people continue watching for news on Covid cases and vaccine updates. 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. Thursday also brings the Housing Starts data. Friday finishes up a very eventful week with both Existing Home Sales and Housing Starts reports being released.
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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