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 June 9, 2019
Present Market Conditions
Attributed to Sam Khater, Chief Economist.
“While the drop in mortgage rates is a good opportunity for consumers to save on their mortgage payment, our research indicates that there can be a wide dispersion among mortgage rate offers. By shopping around and getting a single additional mortgage rate quote, a borrower can save an average of $1,500.”
“These low rates are also good news for current homeowners. With rates dipping below four percent, there are over $2 trillion of outstanding conforming conventional mortgages eligible to be refinanced – meaning the majority of what was originated in 2018 is now eligible,” he says.
Expectations
Looks like we’ll have a lot of information to look at this week. The Consumer Price Index (CPI) is a key indicator that lets us know if there are any inflation concerns. The CPI will be released on Wednesday. Retail Sales data will be released on Friday and is always important because it makes up approximately 70% of the U.S. economic activity. There will also be Treasury Auctions taking place on Wednesday and Thursday.
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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