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 April 22, 2024

Present Market Conditions

Attributed to Sam Khater, Chief Economist.

“The 30-year fixed-rate mortgage surpassed 7 percent for the first time this year, jumping from 6.88 percent to 7.10 percent this week,” said Sam Khater, Freddie Mac’s Chief Economist. “As rates trend higher, potential homebuyers are deciding whether to buy before rates rise even more or hold off in hopes of decreases later in the year. Last week, purchase applications rose modestly, but it remains unclear how many homebuyers can withstand increasing rates in the future.”

Expectations

This week looks to be much busier with the financial news! Tuesday starts off the reports with New Hames Sales data being released while Wednesday brings the Durable Goods Orders. Thursday follows with the Gross Domestic Product  (GDP) for the 1^st quarter of 2024, Pending Home Sales stats along with the jobless claims. Friday finishes up the week with the Core PCE price index which is the favored inflation indicator for the Fed.

Guidance

It’s a great time to be in the market for a mortgage, as rates have recently improved! Make sure you take advantage of this great time to buy!