Redrow also said the market had been helped "significantly" by the Funding for Lending programme.
BBC: Mortgage market boosted by lending schemes, says Redrow
The threat of termination of any forthcoming lending programme is unlikely to cause Mr Moi any sleepless nights.
"Growth is likely to be weak in the near term but further out a continued easing in domestic credit conditions, supported by the Bank's asset purchase programme and the Funding for Lending Scheme, together with the stronger global backdrop, underpin a slow but steady recovery in output, " the governor said.
"Over time, by providing a market for these assets that does not now exist, this programme will help improve assets values, increase lending capacity by banks, and reduce uncertainty about the scale of losses on bank balance sheets, " US Treasury Secretary Timothy Geithner wrote in the Wall Street Journal before the programme was officially announced.
Tim Coates, former managing director of WH Smith and Waterstones, and founder of e-books sales and lending site Bilbary, told the Today programme's Simon Jack that he thought the US government had "a very strong case" against Apple.
The rise in indirect lending, through the government's credit-guarantee programme, has been even more striking.
Such a programme would be cheap, he says, because sub-prime lending is so concentrated in certain neighbourhoods.
ECONOMIST: Lawmakers, state and federal, are mounting an attack
In Britain, banks still face high borrowing costs and remain nervous about lending more to small and medium-sized enterprises: a new credit-easing programme about to be introduced by the BoE and the Treasury is long overdue.
David Kern, chief economist at the British Chambers of Commerce, said the latest unemployment data indicated the need for the Bank to continue with a "forceful QE programme", and "in conjunction with the government, supplement this with specific measures aimed at stimulating bank lending to credit-worthy businesses".
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