Michael Joy - NMLS# 120763 - Movement Mortgage

06/28/2025

Another retirement vastly improved. We exist to love and value people...

12/07/2023

10/05/2021

Mortgage Terms 101. Learn about mortgage RECASTING here:

Have you ever heard of the term “recasting” when it comes to your mortgage? Not sure what it is? Loan Officer Chelsea Stanton breaks it down for us. “When people think of “recasting” they often think of fishing. But, nope I’m not talking about your relaxing day on the water…

08/31/2021

Home prices are up 18.8% on average, nationwide. Home prices rose 1.6% in June and are up 18.8% year over year, up from 18% in the previous report.

The FHFA (Federal Housing Finance Agency) released their House Price Index, which measures home price appreciation on single-family homes with conforming loan amounts. While you can have a million-dollar home with a conforming loan amount, the report most likely is representing lower prices homes, where supply is tightest, and demand is strongest.

Call me and let’s talk about what this means for you!

08/06/2021

The Bureau of Labor Statistics (BLS) reported that were 943,000 jobs created in July, which was stronger than expectations of 870,000. Additionally, there 119,000 in positive revisions to May and June combined. The Unemployment decreased from 5.9% to 5.4%. The unemployment rate is derived from the household survey, which has its own job creation component. Within the household survey there were 1,043,000 job creations, while the labor force increased by 261,000. The number of unemployed people decreased by 782,000, causing the unemployment rate to fall by 0.5%. There was a misclassification error that would add another 0.3% to the unemployment rate, which was not counted. Meaning that the unemployment rate should have been around 5.7%. Average hourly earnings were up 0.4% compared to the previous report and are up 4% year over year. Average weekly earnings, which we focus on more because it measures what people actually take home, were up 0.4% month over month. Year over year weekly earnings is up 4.6%...but if we were to extrapolate the last few months on a year over year basis, which is more indicative of what we are seeing, it's closer to 6.5%.

08/05/2021

Market update, RE: Jobless Claims

Initial Jobless Claims, which measures individuals filing for unemployment benefits for the first time, were down 14k to 385k last week. Continuing Claims, which measures individuals who continue to receive benefits, was down 366k to 2.9M…which is the first dip beneath 3M and is a post pandemic low. The Pandemic Unemployment Assistance Claims, which gives individuals benefits who would not usually qualify, and the Pandemic Emergency Claims, which extends benefits after regular benefits expire, decreased by 92k combined. 13M million individuals are still receiving benefits throughout all of their programs, which is down 181k from the previous report. We expect all of the figures within this report to improve once September comes and all of the extra benefits expire.

06/29/2021

Biden- Harris Administration extends 2021 Foreclosure Moratorium to keep people in their homes. Get all the details here:

https://vathefairway.com/biden-harris-administration-extends-2021-foreclosure-moratorium-to-keep-people-in-their-homes/

06/28/2021

Fairway is honored to have such an incredible team that believes in the way we do things.

That's not because we think what we do is best, but because our people are the ones with the power to decide the path we go.

Thinking about joining our team, call me. Let’s chat!

06/25/2021

Fairway Independent Mortgage Corporation Ranked #1 in USDA Loans for 2nd Straight Year

http://vathefairway.com/fairway-independent-mortgage-corporation-ranked-1-in-usda-loans-for-2nd-straight-year/

06/23/2021

Want to join our winning team this year? Call me and let’s have a conversation, (253) 200-4614.