What It Means for Home Buyers and Sellers in Westlake Village & the Conejo Valley
This past week brought noticeable shifts in the economy that are already influencing mortgage rates and financial markets. Global tensions in the Middle East led to a sharp increase in oil prices after Iran shut down the Strait of Hormuz — a critical shipping route that carries nearly 20% of the world’s oil supply.
As a result, oil prices jumped quickly from about $66 per barrel to nearly $90 in just a week. When energy prices spike this quickly, it often raises concerns about inflation. Those fears caused stocks to fall while bond yields and mortgage rates moved higher.
Mortgage Rates
Just last week, mortgage rates were hovering below 6%, the lowest levels we've seen since 2022. In a matter of days, rates climbed back to roughly 6.25% for a 30-year fixed loan.
According to the Freddie Mac Primary Mortgage Market Survey (March 5, 2026):
• 30-Year Fixed Mortgage: 6.0% (up slightly from 5.98%)
• 15-Year Fixed Mortgage: 5.43% (virtually unchanged from 5.44%)
However, as oil prices surged later in the week, the 30-year rate finished closer to 6.25%.
Mortgage rates closely follow U.S. Treasury bond yields, which also rose this week.
Labor Market Update
The latest jobs report showed the U.S. economy lost about 92,000 jobs in February, and unemployment ticked up slightly to 4.4% from 4.3% in January.
Normally, weaker job numbers would help push interest rates lower because reduced consumer spending tends to slow inflation. However, rising energy prices offset that effect, keeping pressure on interest rates.
Stock Market Snapshot
Financial markets reacted to the economic uncertainty:
• Dow Jones: 47,501 (down 3% for the week)
• S&P 500: 6,740 (down 0.4% for the week)
• Nasdaq: 22,387 (down 1.8% for the week)
Treasury Yields (Which Influence Mortgage Rates)
• 10-Year Treasury: 4.15% (up from 3.98%)
• 30-Year Treasury: 4.77% (up from 4.64%)
Because mortgage rates follow these bond yields, higher yields typically mean higher borrowing costs for homebuyers.
What This Means for Westlake Village & Conejo Valley Real Estate
Even with short-term economic volatility, our local real estate market remains resilient. However, changes in mortgage rates can impact both buyers and sellers.
For Home Buyers:
A rise from 6% to 6.25% may not sound large, but it can increase monthly payments and reduce purchasing power. Buyers considering homes in Westlake Village, Thousand Oaks, Lake Sherwood, and Agoura Hills may want to move strategically before rates climb further.
For Home Sellers:
Inventory in the Conejo Valley remains relatively tight. Well-priced homes are still attracting strong interest, particularly in desirable neighborhoods near the lake, golf communities, and family-friendly areas. However, as mortgage rates fluctuate, pricing strategy and marketing become even more important to maximize value.
The Bottom Line
Economic headlines may cause short-term swings in mortgage rates, but real estate is still one of the most stable long-term investments. Whether you're buying your first home, upgrading, downsizing, or considering selling, having the right strategy is key.
📍 If you're thinking about buying or selling in Westlake Village or anywhere in the Conejo Valley, let's talk. I’m happy to provide a personalized market update and show you how current economic conditions may affect your home’s value or your purchasing power.
Contact Tina Lucarelli
The ONE Luxury Properties, Inc.
📞 310-738-8089
🌐 www.ListWithTina.com
