This 'magic number' for mortgage rates will thaw the housing market and allow prices to drop, DoubleLine says

• If mortgage rates hit 5%, the market could unfreeze and prices may fall, DoubleLine said in a note. 
• Lower rates will bring homeowners back to the market, fueling inventory volumes. 
• Others have said falling mortgage rates will lead to surging demand and keep prices high. 

If mortgage rates can continue to drop and fall to the 5% level, that would unfreeze the US housing market and even cause prices to fall, DoubleLine Capital's Ken Shinoda wrote in a note last week.