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Higher Rates Won't Derail Housing Market, Says CEO of Home Builder CalAtlantic

Interest rates may be going up, but that won't hurt the housing market, says the CEO of home builder CalAtlantic.

The CEO of CalAtlantic (CAA) , Larry Nicholson, says higher interest rates won't derail the housing market. CalAtlantic officials rang the closing bell at the New York Stock Exchange to celebrate the company's formation one year ago, through the merger of Standard Pacific and Ryland. Nicholson says he's seeing strength in all of the company's markets. He also said the market is no where near a bubble. TheStreet's Rhonda Schaffler has details from the New York Stock Exchange.

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