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April 29, 2026
Today: Mortgage rates climbed to 6.37%, multifamily vacancy dropped nationally for the first time since 2021 (signaling rent stabilization ahead), and new credit score rules from FHFA could reshape pricing grids within months.
Mortgage rates ticked up to 6.37% for the 30-year fixed (up from 6.35% last week), pushing Richland County into a fresh affordability squeeze. Purchase applications rose 1% nationally and are tracking 21% higher year-over-year, suggesting buyers are accepting the rate environment and moving forward with spring transactions. For Columbia agents, this means listing inventory matters more than rate speculation. Frame buyer consultations around payment certainty, not rate timing. The window for competitive offers is narrowing as inventory conditions improve but rates hold elevated. Mortgage News Daily | CNBC
National home prices showed minimal movement in February. Case-Shiller came in at 0.9% year-over-year (down from 1.2% prior), and FHFA reported flat monthly growth at 0.0% versus 0.2% expected. The national median rent is $1,370, down 1.7% year-over-year and sitting 5% below the 2022 peak. For Columbia's rental market, this suggests pricing power remains limited. If you manage rental properties in Five Points or near Fort Jackson, hold current rents or offer modest renewal incentives rather than testing increases. Lease-up timelines are running 35 days nationally (nearly double the mid-2021 pace), so turnover is costly. Mortgage News Daily | Rental Housing Journal
Buyer's market indicators are firming. National inventory rose 9% year-over-year in Q1 2026, days on market (DOM) continue to extend, and price reductions are more common. Columbia is not immune. If you're listing in Lexington County suburbs (Chapin, Irmo, Blythewood), price it right from day one. Homes sitting 30+ days signal overpricing in this inventory environment, and buyers have negotiation leverage they haven't had in years. Expect inspection requests, repair negotiations, and closing cost asks. Sellers who adjust early close faster. Redfin
No USC-specific articles today, but the broader multifamily story matters for student housing landlords. National multifamily vacancy dropped to 7.2% in April (the first decline in four years), and rent growth is turning positive after two years of stagnation. Five Points and Vista landlords should watch for stabilization in fall 2026 leasing. If your student rentals have been soft, the supply wave may finally be absorbing. Don't chase rent increases yet, but stop discounting. USC fall enrollment and Fort Jackson PCS cycles will determine whether Columbia mirrors national trends or lags due to localized oversupply. Rental Housing Journal | HousingWire
AvalonBay (one of the largest multifamily REITs) beat Q1 earnings expectations, crediting high occupancy and the widening rent-vs-buy gap. Nationally, renting is approximately $2,100 cheaper per month than buying on a median basis. Columbia's cost structure is lower, but the directional pressure is identical. Buyers priced out at 6.37% rates are staying in rentals longer, which supports occupancy but caps rent growth. For property managers, this means stable demand but limited pricing power. Focus on tenant retention over turnover. Commercial Observer
No Columbia-specific foreclosure or permit data in today's feed, but the national permit environment offers a signal. HUD and USDA rolled back costly energy efficiency mandates (2021 IECC and ASHRAE 90.1-2019 standards), which could reduce new construction costs by $9,600 to $21,400 per home depending on climate zone. South Carolina's moderate climate zone likely falls in the middle of that range. If you work with builders or investors eyeing new construction in Columbia's growth corridors (Northeast Richland, Blythewood), this regulatory rollback improves project economics. Watch for increased permit activity in Q3 2026 as builders adjust pro formas. NAHB
Tax sales, FSBOs, and expired listings remain opportunity channels in a buyer's market. Columbia agents should monitor MLS expirations weekly. Overpriced listings from Q1 are hitting the 90-day mark now. These sellers are motivated but may need pricing reality checks before relisting. Approach with comps, not optimism.
Multifamily capital markets are reopening after two years of tight lending conditions. NAIOP's Spring 2026 CRE Sentiment Index shows cautious optimism among commercial real estate leaders, though geopolitical volatility (US/Iran tensions) is tempering enthusiasm. For Columbia investors eyeing multifamily acquisitions, this means financing is available but pricing discipline matters. Cap rates remain compressed in stabilized assets, but distressed or lease-up properties may offer value if you can weather near-term vacancy risk. HousingWire
Construction financing remains selective. Lenders expect construction costs to stay elevated, and rent growth projections are modest (Yardi forecasts 1.2% rent growth nationally in 2026, 2.0% in 2027). Columbia's multifamily pipeline should slow as oversupplied Sun Belt markets work through inventory. That's positive for existing landlords (less new competition) but negative for construction trades employment. NAHB data shows construction trades workers dropped from 71% of the construction workforce in 2005 to 59% in 2024, with management and compliance roles expanding due to regulatory complexity. Columbia contractors should plan for continued labor tightness. HousingWire | NAHB
CrossCountry Mortgage raised its bid to acquire Two Harbors Investment Corp. to $11.30 per share (up from $10.80) after UWM submitted a competing offer. The transaction, expected to close Q3 2026, pairs a major retail originator with RoundPoint's servicing platform. For Columbia mortgage brokers, this signals continued consolidation in the lending space. Watch for servicing transfers and potential rate sheet changes as integration proceeds. HousingWire
April rent growth was positive nationally for the third consecutive month (up 0.5%), but year-over-year rent growth is still negative at -1.7%, the lowest level since 2017. Columbia landlords should interpret this as a bottoming process, not a recovery signal. Rents are stabilizing, not surging. Vacancy dropped to 7.2% nationally (first decline in four years), which suggests supply absorption is underway. For Richland County rental portfolios, this means occupancy pressure is easing, but don't expect rent increases until late 2026 or early 2027. Lease renewals should focus on retention, not revenue growth. Rental Housing Journal
List-to-lease time remains elevated at 35 days nationally (versus 18 days in mid-2021). Columbia's Five Points and Vista markets are likely tracking similar timelines due to student housing seasonality. If you're turning units for summer leasing, market them aggressively in May. Delaying to June increases risk of extended vacancy into fall. Price competitively, highlight move-in-ready condition, and consider lease incentives (first month discounted, waived fees) for qualified tenants who sign early.
FHFA and HUD announced adoption of FICO 10T and VantageScore 4.0 as alternatives to FICO Classic, with lender choice allowed. Industry analysts warn this could trigger loan-level price adjustment (LLPA) grid changes at Fannie Mae and Freddie Mac, potentially increasing borrowing costs despite higher credit scores under the new models. If implemented, Columbia lenders should expect pricing volatility as GSEs adjust grids to recover revenue. This is a 2026-2027 transition, not an immediate change, but originators should monitor FHFA guidance closely. HousingWire
Gamification risk is real. If borrowers can choose the highest score across models, analysts project delinquency rates could rise 40% across the entire credit spectrum due to adverse selection. For SCREC-licensed agents offering financing referrals, this underscores the importance of working with lenders who underwrite conservatively and don't cherry-pick scores. Default risk matters in a purchase market where buyers are already stretching.
Social Security earnings limits are under Congressional scrutiny. The Senior Citizens' Freedom to Work Act (introduced by Sen. Rick Scott) would repeal the retirement earnings test, which currently reduces benefits for early claimants who continue working. Columbia's aging population and Fort Jackson retiree base make this relevant. If passed, expect more retirees to remain in the workforce longer, which could reduce downsizing activity and tighten inventory of single-story homes and 55+ communities. HousingWire
NAR membership trends show 63% of Realtors are female, and among residential specialists, only 5% reported zero transactions in 2024. The typical Realtor completed 10 transaction sides annually. Real Brokerage is acquiring RE/MAX for $550 million (including debt, $880 million total), branding the combined entity as "Real REMAX Group" with a focus on AI integration. Motto Mortgage will retain its brokerage franchisor model. Columbia agents affiliated with RE/MAX should expect transition communications in Q2 2026. Mortgage News Daily
U.S. Customs launched Phase 1 of the IEEPA tariff refund process, allowing importers and customs brokers to recoup certain tariffs via the CAPE system in ACE. Only importers of record and authorized brokers can apply. This matters for Columbia commercial real estate if your clients are developers or businesses importing construction materials. Tariff refunds could improve project budgets retroactively, but the process is complex and limited to specific entry types. NAHB
Bottom line: Rates are climbing, but buyers are moving. Multifamily vacancy is turning, signaling the worst of the supply wave is behind us. Price listings aggressively, focus on tenant retention, and monitor FHFA's credit score rollout for pricing impacts. The Columbia market is stabilizing, not surging. Act accordingly.