National Average Salary Hits Record Highs, Gives Opportunity for Reperforming Note Investors
From Housing Wire
US Average Salary Record Highs
According to the Federal Reserve Bank of New York, the annual U.S. average salary hits record high $69,181 in November for all day laborers, which is a 3.4% increase from the year prior. These inclining pay scale patterns have created the strongest job market we have had in 50 years. On the other end of the spectrum, the unemployment rate was a small 3.5% back in November. For the economy to continue thriving and feel the positive effects of these record high figures, inflation should remain low so families can actually feel the financial changes.
Reperforming Note Investors Get Opportunities
From these new discoveries, we can safely assume that borrowers who previously could not afford their mortgages can now follow through with renegotiated terms. Reperforming note investors, or even nonperforming note investors, should have greater success with the borrower consistently paying their monthly mortgage, allowing for a stable monthly passive income stream. Note investors should look out for higher returns when the US average salary hits record highs like we are seeing.
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