The Real Deal Miami

Mortgage prices must be kept low to ensure recovery

September 29, 2009 06:50PM

CEO of real estate Web site Trulia, Pete Flint, appeared on CNBC to discuss the future of home prices. According to a report released recently by the Federal Housing Finance Authority, home prices are finally beginning to stabilize. But, since fall is historically a slow real estate season and the first-time homebuyer tax credit deadline is quickly approaching, some are questioning how much longer home prices will continue to increase. Flint said that in order to keep prices low, mortgage rates must also remain low. “Changes will be problematic because homeowners are more worried about monthly payments than home equity,” Flint said . He also noted there has been an increase in volume and traffic on real estate listing sites, indicating that many are looking and thinking about buying, but not necessarily jumping into the market.