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

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.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Deere conference call: 2027 orders up mid-single digits from last year)
• Citigroup set to join top banks in Anthropic IPO - Bloomberg
• CIENA (CIEN) PT Lowered to $550 at BofA Securities