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 17, 2018
Present Market Conditions
Attributed to Sam Khater, Chief Economist.
“The one-two punch of strong job and consumer credit growth drove mortgage rates up to their highest mark since August 2. Mortgage rates are currently 0.82 percent higher than a year ago, which is the biggest year-over-year increase since May 2014,” he said. “Looking ahead, annualized comparisons for mortgage applications may look weaker than they appear, but that’s primarily because of the large spread between mortgage rates now and last September, which was when they reached their low for the year.”
Added Khater, “Overall, this spectacular stretch of solid job gains and low unemployment should help keep homebuyer interest elevated. However, mortgage rates will likely also move up, as the Federal Reserve considers short-term rate hikes this month and at future meetings.”
Expectations
The financial data for this week will be focusing on the housing market. Tuesday starts things off with the NAHB home builder confidence index. Wednesday then follows up with Housing Starts data. Existing home sales will finish things up when released on 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 take advantage of this great time to buy!
Be sure to check back each week for a new market script!
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