BofA's (BAC) Moynihan: Home Loan Delinquency Rates Down, U.S. Needs Employment Gains

January 25, 2013 11:01 AM EST
Bank of America (NYSE: BAC) CEO Brian Moynihan commented on home loans and other issues during a Bloomberg interview at the World Economic Forum in Davos today.

Paraphrasing Moynihan:
  • Delinquency rates are going down on home loans;
  • No overly worried about consumer confidence;
  • The U.S. will need more progress on employment;
  • Household formation fueling demand for homes;
  • There is still 'risk of downside' in the U.S. economy;
  • Consumer spending is improving in the U.S.; and
  • The overhang in housing has 'been worked through'.

No video of the interview was made immediately available. BofA shares are modestly higher Friday.

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