Mortgage rates continue to be one of the hottest topics in real estate—and for good reason. After the most recent jobs report came in weaker than expected, the bond market shifted almost immediately. As a result, in early August mortgage rates dropped to 6.55%, the lowest point so far this year.

At first glance, that small dip may not seem like a game-changer. But for many homebuyers across Westlake Village, Thousand Oaks, Agoura Hills, Newbury Park, and Simi Valley, this was the signal they’ve been waiting for. Even a slight decline in rates can reignite optimism that housing affordability in Conejo Valley could improve.

What’s Next for Mortgage Rates?

Industry experts—including Fannie Mae, MBA, and Wells Fargo—are forecasting that rates will likely remain in the mid-to-low 6% range through 2026. That means while big drops aren’t expected soon, smaller shifts will continue in response to economic reports and inflation trends.

The “magic number” buyers are watching closely is 6%. Why? Because according to the National Association of Realtors (NAR):

• If mortgage rates fall to 6%, an estimated 5.5 million more households nationwide could afford a median-priced home.

• Roughly 550,000 additional buyers could enter the market within 12–18 months.

That creates a wave of pent-up demand. And as forecasts suggest, Conejo Valley buyers could see rates approach this threshold by next year.

Should You Wait for Lower Rates?

Here’s the tradeoff: waiting for 6% means competing with thousands of other buyers who are waiting too. When demand spikes in places like Thousand Oaks and Westlake Village, you’ll likely face:

• More competition for Conejo Valley homes

• Fewer housing options as inventory gets picked over

• Higher home prices driven by multiple-offer situations

Right now, buyers have a rare window of opportunity:

• Inventory in Conejo Valley is up, giving you more choices

• Home price growth has slowed, making pricing more realistic

• Sellers may be more open to negotiation, which could mean better deals

As NAR puts it: “Buyers who are holding out for lower mortgage rates may be missing a key opening in the market.”

Bottom Line for Conejo Valley Buyers and Sellers

Rates are not expected to reach 6% this year. But when they eventually do, you’ll face stronger competition in Agoura Hills, Simi Valley, Newbury Park, and beyond. If you want negotiating power and less pressure, the best time to make a move could be right now.

👉 Whether you’re buying a home in Westlake Village or selling a home in Thousand Oaks, our team at Lydia Gable Realty Group can help you navigate the Conejo Valley real estate market with confidence.