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May 1, 2026
Today: 30-year fixed rates hit 6.30% as Fed holds steady amid Iran tensions, March housing starts surged 10.8% nationally while building permits dropped 10.8%, and homebuyers are ignoring rate volatility with purchase applications up 20% year-over-year.
Mortgage rates ticked up 7 basis points to 6.30% as the Fed held rates steady and expressed concerns about Middle East uncertainty. The 10-year Treasury bond crossed 4.4% after U.S.-Iran peace talks hit an impasse. For Columbia buyers, this means monthly payments stay elevated, but rates are still 50 basis points lower than last year. Purchase applications are up 20% year-over-year despite rates lingering in the 6% range, signaling demand is holding as buyers reset expectations and accept that sub-6% rates are not returning soon. Shopping multiple lenders can save up to 0.55 percentage points (over $40,000 on a 30-year loan), making lender comparison critical in this environment.
National housing starts jumped 10.8% in March, but building permits fell 10.8%, signaling builder caution ahead. This divergence (strong starts, weak permits) suggests builders are completing projects already in the pipeline but hesitating to launch new ones. For the Midlands, watch permit activity in Richland and Lexington counties closely. If permits stay suppressed, inventory will tighten further in 6-12 months. Contact builder clients now about accelerating permit applications before costs rise.
Home prices nationally rose just 0.7% year-over-year in February per Case-Shiller, with real home values declining as inflation outpaces appreciation for the ninth consecutive month. FHFA data showed prices flat month-over-month in February. The Midwest and Northeast led gains (Chicago +5.0%, New York +4.7%), while Sun Belt markets weakened (Denver -2.2%, Tampa -2.1%, Phoenix -1.8%). Columbia sits geographically between these trends. Frame pricing conversations around flat-to-modest appreciation and emphasize affordability relative to coastal markets.
All-cash purchases remain structurally elevated at 28% of existing home sales, well above the post-2015 norm of 23%. This represents roughly 1.2 million annual purchases ($385 billion) bypassing mortgage origination. For Columbia agents, this means competing with affluent buyers, relocating homeowners from higher-cost markets, and investors who are not rate-sensitive. Price competitively and highlight seller financing or creative terms to differentiate for financed buyers.
USC Dance Marathon elected Emma Grove as 2026-27 president. The organization raised over $765,000 at its 2026 Main Event in February, continuing a 28-year tradition of student-led fundraising for Prisma Health Children's Hospital. USC's philanthropic culture remains strong, which correlates with stable enrollment and off-campus housing demand. Student housing landlords should monitor fall enrollment numbers closely as they become available. No direct enrollment data in today's articles, but stable fundraising participation suggests steady campus activity.
Fort Jackson PCS cycles and military housing demand are not covered in today's feed. Monitor spring/summer PCS season through military real estate referral networks.
No foreclosure, tax sale, or distressed property data in today's articles. Watch for local Richland County foreclosure auction announcements and expired MLS listings as inventory tightens. This is the season to reach out to FSBO sellers who listed in Q4 2025 and failed to close.
Building permit data is national-level only today (10.8% drop in March). Request Richland and Lexington County permit reports from local building departments to identify upcoming inventory and development activity in specific submarkets (Blythewood, Irmo, Lake Murray, downtown Columbia).
Clear Investment Group secured a $50 million refinance for a 671-unit multifamily complex in Washington D.C. through NewBridge Lending's new bridge-to-agency program. The property was acquired from foreclosure auction in December 2024 and is being repositioned with renovations and rebranding. Loans run up to 30 months. For Columbia investors eyeing distressed multifamily assets, this deal structure (bridge-to-agency, 85% occupied, aggressive lease-up) is worth replicating. Reach out to lenders about similar programs for Midlands acquisitions, especially older garden-style complexes near USC or downtown.
Manhattan multifamily recorded 102 transactions in Q1 2026, up 89% year-over-year, but the buyer mix has shifted away from big institutions toward smaller operators. This signals capital is chasing yield in stabilized markets. Columbia's cap rates remain more attractive than coastal metros. Position Midlands multifamily to out-of-state buyers as a yield play with lower basis risk.
National creative financing trends (1031 exchanges, seller carryback) are not covered in today's feed. Watch for these deal structures locally as rates stay elevated.
A survey of 5,000+ landlords shows rising costs are reshaping Philadelphia's rental market. Insurance, property taxes, and maintenance costs are forcing landlords to raise rents or exit the market. Columbia landlords face the same pressures. Palm Beach County is seeing a surge in "accidental landlords" as unsold homes convert to rentals, a trend driven by sellers unable to close at their desired price. This dynamic exists in Columbia as well. Reach out to for-sale-by-owner listings that have sat on market for 90+ days and offer property management services or rental feasibility analysis. Converting failed sales to rentals is a revenue opportunity for property managers.
No vacancy rate, rent trend, or landlord-tenant law updates for South Carolina in today's feed. Check SCREC website for any spring legislative updates.
Real estate agent fees are paid at closing but are not usually considered part of a buyer's closing costs. Commissions are fully negotiable and can be structured in multiple ways depending on the agreement between buyer and seller. This framing is critical for Columbia agents post-NAR settlement. Clearly explain commission structure in buyer consultations and listing agreements. Do not assume sellers will cover buyer agent compensation. Price listings to accommodate negotiation.
Agent commissions typically range from 5% to 6% of the home's sale price, with rates varying by market and fully negotiable. On a $400,000 home, a 5.5% commission equals $22,000. For Columbia's median price point (request updated Richland County median from MLS), calculate commission impact and communicate it transparently to buyers and sellers. In slower markets, agents may be more flexible on rates. Justify full-service support in your value proposition.
Atlas VMS launched Atlas LoanShield, an insurance-backed appraisal warranty for lenders to protect against loan repurchase demands tied to appraisal defects. The average loan repurchase costs lenders $32,288, with appraisal-related issues contributing to over half of all repurchase cases. For Columbia agents, this is a lender risk-mitigation tool that does not directly affect your workflow, but it signals heightened scrutiny on appraisal quality. Ensure appraisers you recommend are detail-oriented and compliant.
No SCREC, NAR, or MLS policy updates in today's feed. Monitor SCREC website for spring rule changes.