Atlanta Fed's Lockhart cites pent-up demand for housing

Wed Feb 19, 2014 2:00pm EST

Dennis Lockhart, President, Federal Reserve Bank of Atlanta, takes part in a panel discussion titled ''Twist and Shout: The Limits of U.S. Monetary Policy'' at the Milken Institute Global Conference in Beverly Hills, California May 1, 2012. REUTERS/Danny Moloshok

Dennis Lockhart, President, Federal Reserve Bank of Atlanta, takes part in a panel discussion titled ''Twist and Shout: The Limits of U.S. Monetary Policy'' at the Milken Institute Global Conference in Beverly Hills, California May 1, 2012.

Credit: Reuters/Danny Moloshok

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(Reuters) - Interest rates are favorable for buying a home even though regulatory requirements to qualify for mortgages have tightened, Atlanta Federal Reserve Bank chief Dennis Lockhart said on Wednesday.

"I think there is pent-up demand that relates to many young people deferring the date of forming their own individual household, and that should ultimately play through to home purchases and building activity," Lockhart told reporters at Mercer University in Macon, Georgia.

Lockhart said he was not "effusively bullish" on housing but felt there was "still momentum" in the sector.

(Reporting by Karen Jacobs in Macon, Georgia; Editing by James Dalgleish)

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