(12PressRelease.com) Wilkinson Bennings‘ economics department reported a surge in U.S. mortgage applications, indicating evidence of stronger economic growth.
By tapping the equity in their homes, consumers free up funds to reduce debt and make purchases, thereby boosting the country‘s gross domestic product (GDP). Continuing low lending rates were intended to generate this effect, but were mostly unsuccessful until now.
Reducing monthly expenses by renegotiating the mortgage also lowers the likelihood of foreclosures and default which have been so damaging to the American economy in the last two years.
Further evidence of a possible recovery can be found with major retailers finally showing improved earnings numbers. This week one of the nation‘s largest retailers, Target Corporation reported the first improvement of quarterly earnings since the economic slump began.
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