Despite tax credit's expiration, housing could stabilize

06/2/2010 | CNBC

Analysts expect a drop-off in home sales as the result of the expiration of a federal tax credit to be short-lived. "It's back to a fundamentals market where there are no gimmicks," said Mike Fratantoni, vice president of research and economics at the Mortgage Bankers Association. Experts say record-low mortgage rates and a recovery in the job market will fuel a return to stability for housing sales.

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