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April 7, 2026
Today: Mortgage rates holding near 6.35% with low volatility, serious delinquencies up 25% in four months (FHA leading), and construction employment added 14,300 residential jobs in March after shedding positions for 13 straight months.
Mortgage rates were essentially flat on April 6, with most lenders close to Friday's levels. The 30-year conforming rate sits around 6.35%, down from early 2026 peaks but up roughly 40 basis points from late February lows. Mortgage News Daily. Bond markets are in wait-and-see mode due to overseas holiday closures and geopolitical developments tied to Iran. For Richland County buyers, this means rates have stabilized but refinance incentives have dropped 60% from recent peaks.
Affordability has improved year-over-year. At 6.35%, the monthly principal and interest payment on an average-priced home is about $2,169, down 3% from March 2025. The payment-to-income ratio dropped from 30.8% to 28.9%, a meaningful improvement but still above long-run norms. Richland County buyers benefit from this shift, but limited inventory remains the bigger constraint. Active listings grew just 8% year-over-year in February, the slowest growth in more than two years. ICE Mortgage Monitor via HousingWire.
Serious delinquencies are climbing. Loans 90-plus days past due or in foreclosure hit 878,000 nationally, up 25% over four months to the highest level since mid-2018 outside pandemic disruptions. FHA loans account for more than 80% of the increase, with FHA serious delinquencies up 40% in that span. Cure rates have fallen 40% since Q3 2025. For Richland County lenders, this signals tighter underwriting on FHA loans and potential distressed inventory opportunities in the next 6-12 months. ICE Mortgage Monitor via HousingWire.
Construction employment added 14,300 residential jobs in March, breaking a 14-month streak of annual declines. Residential construction now employs 3.3 million workers nationally, but the sector has still shed 29,300 jobs over the past 12 months. The six-month moving average of job gains turned positive at 800 per month. For Columbia's new construction pipeline, this suggests builder confidence is stabilizing after a brutal year, but labor remains tight. NAHB Now.
No USC-specific articles today, but Fort Jackson military housing demand continues to track PCS cycles. Spring and summer moves are underway. Landlords with properties near Fort Jackson or USC should have leases ready for July/August move-ins. USC enrollment impacts off-campus housing demand in Five Points, Rosewood, and the Vista. Contact USC housing offices for enrollment trends if vacancy rates are rising.
Serious delinquencies climbing 25% in four months means distressed inventory is coming. FHA loans are driving the increase, with seriously delinquent FHA volumes up more than 40%. Foreclosure starts in February hit 35,000 nationally, up 6% year-over-year. For Richland County investors, this signals opportunities in REO and short sale pipelines over the next 6-12 months. Build relationships with asset managers now. ICE Mortgage Monitor via HousingWire.
Building permits are a mixed signal. National housing inventory is recovering but remains below pre-pandemic levels. Active listings grew 8% year-over-year in February, the slowest growth in more than two years. Local permit data for Richland County will clarify whether Columbia is tracking national trends or outperforming. Check with the Richland County Building Department for March permit counts.
Price reductions are stabilizing. CNBC's housing market survey shows 37% of agents cited time on market as their sellers' top concern, up from 30% at the end of 2025. Fewer agents reported price cuts than in Q4, possibly due to seasonal dynamics and lower mortgage rates in mid-Q1. For Columbia sellers, this means pricing strategy matters more than aggressive cuts. If a listing hits 45 days on market, reassess pricing rather than waiting for buyers to return. CNBC Real Estate.
Financial services firm Marex signed a 39,552-square-foot lease at Rudin's 560 Lexington Avenue in Manhattan, relocating from 80,000 square feet. Asking rent was $84 per square foot. Marex is shedding half its office space, a trend that continues to reshape commercial real estate. For Columbia's commercial market, this underscores the office downsizing trend. Landlords with Class A office space should prepare for tenants requesting smaller footprints or early lease renegotiations. Commercial Observer.
Cap rate analysis matters more than ever. Redfin published a guide on analyzing investment properties, emphasizing net operating income (NOI) and cap rate calculations. NOI = Gross rental income minus operating expenses. Cap rate = NOI divided by purchase price. Higher cap rates signal higher potential returns but also higher risk. For Columbia investors, this is a reminder to underwrite conservatively. Don't skip maintenance reserves or property management fees. Redfin Blog.
Employer-assisted housing is emerging as a niche benefit. Companies like Amazon and Walmart are offering down payment assistance and rent subsidies to recruit and retain workers in expensive regions. For Columbia, this is less urgent than in coastal markets, but large employers near Fort Jackson or downtown could pilot similar programs to reduce turnover. Property managers should track whether any Columbia employers are offering housing benefits. HousingWire.
Renters are choosing speed and predictability over homeownership. A Rently survey found 63% of Gen Z rate speed and ease as very or extremely important in the renting experience. 54% of renters say predictable monthly costs with no surprise charges make renting feel worthwhile long-term. For Columbia landlords, this means clear lease terms, responsive maintenance, and transparent pricing are competitive advantages. Don't surprise tenants with hidden fees. Rental Housing Journal.
Long-term renting is increasingly deliberate, not transitional. 49% of renters say long-term renting is more acceptable today than 10 years ago. 49% of Boomers+ feel no pressure to eventually own a home. For Columbia property managers, this signals demand for high-quality rental stock will persist even as affordability improves. Invest in unit upgrades and tenant retention programs. Rental Housing Journal.
Accidental landlords are hitting highs as rising interest rates freeze buying. Homeowners who can't afford to sell due to low mortgage rates are converting to rentals. For Columbia property managers, this creates opportunity. Reach out to homeowners who listed properties and pulled them off market. Offer property management services to convert accidental landlords into long-term clients. BiggerPockets Blog.
Northwest MLS filed counterclaims against Compass, accusing the brokerage of violating Washington's Consumer Protection Act over its Three-Phased Marketing Strategy (3PM). The program allows sellers to privately market homes to Compass agents before going public on the MLS. Northwest MLS argues this creates a "two-tiered system" that limits access. Washington's Private Marketing Law, effective June 11, requires brokers to market properties simultaneously to the public and all brokers, not select groups. For Columbia agents, this is a reminder that MLS rules are under intense scrutiny post-NAR settlement. SCREC (South Carolina Real Estate Commission) may issue guidance on private listings. Monitor SCREC announcements and avoid marketing strategies that restrict access to listings. RISMedia.
Clear Cooperation debates continue. HomeSmart published an op-ed opposing exclusive "Coming Soon" platforms, arguing they fragment inventory and reduce seller exposure. The company declined to participate in exclusive distribution models with Zillow and Realtor.com. For Columbia agents, this is a strategic question: does limiting where a listing is seen help or hurt the outcome? Fewer buyers typically means fewer offers. If you're marketing a property exclusively on one platform, you're accepting that tradeoff. Most Columbia sellers benefit from maximum MLS exposure. RISMedia.
FHA and VA loan officers are thriving despite market headwinds. HousingWire's Mortgage Rankings highlight top LOs for government-backed loans. These originators excel by knowing guidelines deeply and educating real estate agents on FHA and VA programs. For Columbia agents, this is a reminder to build relationships with lenders who specialize in FHA and VA. These products are competitive on speed and pricing, and many buyers can qualify at higher debt-to-income ratios. Don't assume FHA or VA offers will lose to conventional financing. HousingWire.
Hispanic homeownership gains are the only bright spot in 2025. Hispanic buyers added 441,000 homeowner households, the largest single-year increase since 1975. Without Hispanic buyers, total U.S. homeowners would have declined by 125,000 households. Hispanic homeownership rate sits at 48.7%. For Columbia agents, this underscores the importance of serving diverse communities. Spanish-language marketing and bilingual agents are not niche services. They're essential to capturing growth in Richland County's changing demographics. HousingWire.
Market Status: Buyer-favorable. Rates stable near 6.35%, inventory recovering slowly, distressed pipeline building. Act on FHA delinquency trends, prioritize rental tenant retention, and monitor SCREC guidance on MLS access rules.