Get tomorrow's brief in your inbox
March 28, 2026
Today: 30-year fixed mortgages hit 6.64%, the Iran war squeezed buyer demand nationwide, and Eddie Wilder of ERA Wilder Realty won the inaugural Spirit of ERA Award for his 20 years leading one of South Carolina's largest brokerages.
Mortgage rates climbed to an eight-month high this week. The 30-year fixed rate reached 6.64% as of March 27, up from 6.30% a week earlier, according to Mortgage News Daily. The 60-basis-point jump since the U.S. began its Iran bombing campaign on February 28 pushed rates from 5.99% to near 6.5% in one month. Treasury yields driving this move rose from 3.96% pre-war to 4.4% as of March 27.
Mortgage application volume dropped 10.5% week-over-week, with refinance applications falling 15% and purchase applications down 5%, per the MBA. Higher rates and oil prices are forcing buyers to reset budgets. Approximately 13.7% of homes under contract in February were canceled, up from 12.8% in February 2025, Redfin reports.
Nationally, homes are sitting on the market for 66 days before going under contract (DOM, or Days on Market), continuing an upward trend that began in early 2024. Listings over 60 days are generally considered stale. For Richland County agents, this means pricing strategy matters more than ever. Properties priced aggressively will sit longer as buyers wait for better terms or more inventory. Review the full DOM analysis from Redfin.
The U.S. remains in a record-strong buyer's market, with sellers outnumbering buyers by 47%. Sun Belt markets including Florida and Texas are seeing the strongest buyer leverage, while the Midwest and Northeast hold the few remaining seller's markets. See Redfin's buyer vs. seller market data.
What this means for Columbia: If you have listings priced at February assumptions, revisit them now. Buyers have more negotiating power and are walking away more often. Expect longer DOM and more price reductions if you do not adjust to the current rate environment. For buyer clients stretching their budgets, focus on fixed payments and conservative financing. Rate volatility is not subsiding.
ERA Real Estate named Eddie Wilder of ERA Wilder Realty in Columbia, SC, as the first recipient of its Spirit of ERA Award. The award honors Jeff Riber's legacy of innovation, positivity, and mentorship within the ERA network. Wilder has led ERA Wilder Realty for 20 years, growing it into one of South Carolina's largest real estate companies. Read the full announcement.
Wilder's brokerage earned the ERA Circle of Light Award for community leadership in 2023 and the Gene Francis Memorial Award for Top All-Around Company in 2006. He has been recognized nationally for fundraising efforts for the Muscular Dystrophy Association, received the USAA Eagle Award for supporting military service members, and was named to Columbia Business Monthly's 50 Most Influential List for his work in the Columbia and Lexington County community.
FinCEN's nationwide anti-money laundering (AML) rule requiring reporting for non-financed residential real estate transfers to entities or trusts was struck down by a federal judge in Texas on March 25. The rule took effect March 1 but has now been vacated. Details at HousingWire. Legal observers warn FinCEN retains broad authority and could impose stricter requirements in the future. For now, the compliance burden is lifted, but monitor for new rulemaking.
A Florida appeals court ruled that undisbursed funds in a reverse mortgage line of credit are protected under Florida's homestead exemption and cannot be garnished by creditors. The March 25 decision shields HECM credit lines from forced withdrawal until the borrower requests a draw. Read the ruling summary. This may not directly affect South Carolina transactions, but it signals how reverse mortgage protections are evolving in the Southeast.
Fannie Mae is now accepting cryptocurrency-backed mortgages through a partnership between Better Home & Finance and Coinbase. Borrowers can pledge crypto assets as collateral backing the loan, continuing the Trump administration's push to integrate crypto into mortgage financing. See RISMedia coverage.
Fannie Mae and Freddie Mac have been active in the mortgage-backed securities (MBS) market in recent weeks, but their approach is measured rather than aggressive. The GSEs initially focused on conventional, production-coupon securities to bring primary mortgage rates down. HousingWire reports that the market tightened by 18 basis points after Trump's announcement directing the GSEs toward a $200 billion MBS portfolio expansion, but spreads have since widened back to 125 bps compared to preannouncement levels of 100 bps. Treasury volatility driven by geopolitical tensions is outweighing GSE activity. For Columbia investors, this means the broader macro environment is controlling rates more than federal intervention.
Florida homebuilding markets remain dynamic despite price drops and slowing population growth. According to HousingWire, 15 Florida metro areas rank among the nation's top 20 for largest home price declines between January 2025 and January 2026. Florida gained only 22,517 new residents from net domestic migration last year, down from 310,892 in 2022. However, smaller markets like Ocala and Lakeland continue to see strong population growth, while expensive regions like Miami-Dade and Pinellas County are losing residents. This mirrors dynamics in the Columbia market, where affordability in suburbs like Chapin, Irmo, and Blythewood drives continued interest despite higher rates.
BuildersUpdate.com launched a "pay upon performance" model for homebuilder marketing, charging a $750 flat fee only when a sale closes through its platform. Details from HousingWire. The platform connects builders with over 841,000 licensed agents nationwide and includes placement across 13,000 websites and 1.2 million newsletters. For Columbia builders managing spec inventory in a choppy demand environment, this converts marketing spend into a variable cost tied directly to closings.
No articles today directly covered Columbia rental trends, but the national buyer's market and elevated DOM signal rental demand may stabilize or soften as more buyers pull back. Monitor vacancy rates and adjust rent expectations accordingly. Higher mortgage rates mean fewer renters transitioning to ownership, which could support rental demand in the short term but also means fewer move-up buyers freeing rental inventory.
End of Brief