Should I tell my son the Easter Bunny and Santa are not real?

He is almost 9. He is very mature for his age, yet he still believes. I asked him, trying to hint, how does the Easter Bunny get into the house? He tells me about this silent dust Santa & the Easter Bunny use so no one hears them. He says the Easter Bunny has a magic key to get into every ones home. I asked, why do they sell baskets and stuff at Walmart? He says for the kids that are bad, so their parents can get them stuff and pretend like the Easter Bunny came to their house too, He says kids at school laugh at him and say they can't believe he still believes in all that. He asked them where does all the stuff come from and the kids said, your parents. Should I just fess up? He has a brother 2 years older that knows.