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 13, 2018
Present Market Conditions
Attributed to Sam Khater, Chief Economist.
“The economy continued to show resilience as strong business activity and growth in employment drove the 30-year fixed mortgage rate to a seven year high of 4.94 percent – up 11 basis points from last week.”
Added Khater, “Higher mortgage rates have led to a slowdown in national home price growth, but the price deceleration has been primarily concentrated in affluent coastal markets such as California and the state of Washington. The more affordable interior markets – which have not yet experienced a slowdown home price growth – may see price growth start to moderate and affordability squeezed if mortgage rates continue to march higher.”
Expectations
Markets are closed on Monday in observance of Veterans Day. Economic news starts coming in on Wednesday with the release of the Consumer Price Index. The Consumer Price Index (CPI) is another key indicator that lets us know if there are any inflation concerns. Thursday then follows up with 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.
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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