Are home prices about to plummet? Interior six months, mortgage charges are doubling in percentages. In January, mortgage charges beget been 3 p.c and now it’s bigger than 6 p.c. The scorching housing market is cooling off, with prices coming down from 5 to 10 p.c in some locations. It be additionally estimated that 25 p.c of properties on the market beget reduce their prices.