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 November 30, 2020
Present Market Conditions
Attributed to Sam Khater, Chief Economist.
“Mortgage rates remain at record lows, and while that has fueled a refinance boom, it’s been driven mainly by higher-income borrowers. With about 20 million borrowers eligible to refinance, lower- and middle-income borrowers are leaving money on the table by not taking advantage of low rates,” said Sam Khater, Freddie Mac’s Chief Economist. “On the home buying side, demand continues to surge, and it has created a seller’s market where inventory is at a record low and home prices are rising, beginning to offset the benefits of the low rates.”
Expectations
Investors will continue to track case counts for Covid, progress on vaccination, and measures of government stimulus. Also, the monthly employment report will be published on 4 December, and the statistics on the number of jobs, unemployment, and wage inflation will be the most awaited economic data of the month.
Guidance
It’s a great time to be in the market for a mortgage! With rates still meager 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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