Wells Fargo CFO: Rising rates won't slow housing recovery

Tim Sloan, Wells Fargo & Co.’s chief financial officer, says that increasing mortgage rates won’t slow the housing recovery because housing affordability is still abundant and household formation is on the rise.

“We don’t believe that the recent increases in mortgage rates are going to in any way, shape or form snuff out the housing recovery,” Sloan said today at an investor conference, according to Bloomberg.

Source: Bloomberg