Economy Kicks Into Higher Gear, With Bank Cards, Mortgages as Evidence
That trend is even stronger, it appears, in the banking and lending market, as new mortgages and bank card usage are on the upswing, according to a report from Experian.
The credit ratings firm examined retail banking trends for the first quarter of 2013, and reported that:
- New home mortgages were up 16% on a year-to-year basis.
- Consumer bank card limits were up 20% over the same period.
- Bank card delinquencies are down and geographically, the U.S. Midwest is leading the pack in terms of consumer banking growth.
As the report attests, double-digit growth in key consumer banking sectors is a healthy sign for the overall economy. Thus, Experian analysts are seeing more rays of sunlight covering the U.S. financial landscape."This year is off to a solid start given continued upward trends in
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