Quicken Chief Says Higher Rates Won’t Limit Housing Rebound
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Quicken Loans Inc. head William Emerson, whose online home lender is buying mortgage servicing rights from Ally Financial Inc., said higher interest rates won’t damp housing’s recovery and his industry will benefit from refinancings if the economy cools.
As the labor market rebounds, interest rates may “tick up,” Emerson, Quicken’s chief executive officer, said on Bloomberg Television’s “Market Makers” during an interview today. “I don’t think you’re going to see rates jump that much,” he said. “It’s going to be a great opportunity for people to buy homes when we start to see jobs come back.”