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 March 30, 2020
Present Market Conditions
Attributed to Sam Khater, Chief Economist.
“The Federal Reserve’s swift and significant efforts to stabilize the market were much needed and helped mortgage rates drop for the first time in three weeks,” said Sam Khater, Freddie Mac’s Chief Economist. “Similar to other segments of the economy, real estate demand is softening. However, the combination of the Fed’s actions and pending economic stimulus will provide substantial support to the mortgage markets.”
Expectations
Along with coronavirus updates we have quite a bit of economic data to digest this week. Economic news starts coming in on Monday with the release of the Pending Home Sales information. The ISM National Manufacturing Index is being released on Wednesday. Friday wraps up the week with one of the most important reports we will see this month. The Monthly Employment report will let us know job numbers, the unemployment rate and if there is any wage inflation.
Guidance
It’s a great time to be in the market for a mortgage! With rates still very low and the economy heating back 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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