Market Script (PEG)

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:

  • 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 11th, 2024

Present Market Conditions

Attributed to Sam Khater, Chief Economist. 

“Mortgage rates continued to inch up this week, reaching 6.79 percent,” said Sam Khater, Freddie Mac’s Chief Economist. “It is clear purchase demand is very sensitive to mortgage rates in the current market environment. As soon as rates began to rise in early October, purchase applications fell and over the last month have declined 10 percent.” 

Expectations 

We have quite a bit of economic news to take in this week.  Wednesday starts off the major reports with the release of the Consumer Price Index (CPI).  The CPI is a key indicator that follows inflation concerns.  Thursday follows with the Producer Pricing Index (PPI).  The PPI is another key inflation report that is being watched closely these days.  Friday finishes the week 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.  We will also have multiple Fed Officials will be speaking this week about future economic expectations.    

Guidance

It’s still a good time to be in the market for a mortgage! 

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