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June 7, 2026
Today: Mortgage rates climbed to 6.66% (near 2026 highs), but national pending sales jumped 9% year-over-year and purchase apps stayed positive despite rate pressure. Fort Jackson kicks off Victory Week celebrations this week, and NAR scored wins on Capitol Hill for housing policy.
Mortgage rates hit 6.66% this week, approaching the yearly high, but housing demand continues to outperform. National pending sales are up 9% year-over-year (75,935 vs 69,636 last year), and purchase applications grew 7% annually despite a 3% weekly dip. The resilience is real: 19 of 21 weeks this year showed positive year-over-year purchase app growth, even as rates climbed from the 5.75%-6.75% forecast range toward the upper bound. For Columbia agents, this means buyer demand hasn't evaporated. Tighten pricing strategies on overpriced listings, and counsel buyers that rates above 6.64% historically soften activity but rates below that threshold (and trending toward 6%) drive stronger demand. If the 10-year yield breaks above the 4.60% forecast ceiling due to persistent inflation, expect rate pressure to intensify.
Mortgage spreads are holding at 2.01%, down from pandemic-era extremes but still elevated compared to the historical 1.60%-1.80% range. Without improved spreads, rates would already be at 7.76% given current 10-year yields. This cushion is keeping Columbia's market accessible, but watch the spread. If it widens back to 2023 levels, affordability takes another hit just as Richland County inventory (still negative year-over-year by a hair) starts to normalize. Active listings ticked up this week but remain constrained, meaning competitive pressure on well-priced homes continues.
Columbia VA launched its 2026 Summer Student Volunteer Program, signaling summer activity around the hospital district. Not a direct housing driver, but the VA's engagement with local students (many USC-affiliated) keeps the midtown corridor active during the typically slower summer months. If you manage off-campus inventory near the VA or Prisma, expect steady tenant interest from students staying for summer programs and rotations.
Fort Jackson is gearing up for Victory Week celebrations with live artillery demonstrations and a sound advisory in effect. No direct real estate impact, but Victory Week typically coincides with PCS (Permanent Change of Station) cycles as graduating soldiers receive orders. If you work the northeast Richland County or Hopkins/Blythewood submarkets where military families cluster, prep for rental inquiries and buyer consultations as new arrivals look for housing near the base. Short-term rentals near Fort Jackson may see a spike from visiting families.
NAR reported policy wins from this week's legislative fly-in, with REALTORS pushing housing affordability and tax policy issues on Capitol Hill. Details are thin, but advocacy focus areas typically include mortgage interest deduction protection, down payment assistance programs, and zoning reform. For South Carolina agents, watch for federal grant programs that could support first-time buyers in the Columbia market, particularly if student loan forgiveness or military housing allowances get legislative attention. NAR's advocacy momentum could mean policy tailwinds for buyers struggling with affordability at current rates.
No actionable updates today in: Deal Flow, Commercial & Investment, Property Management & Rentals.
The Columbia Real Estate Brief is a daily market intelligence digest for real estate professionals, investors, and engaged homebuyers in the Richland County and Lexington County markets. Each brief analyzes industry news, market data, and regulatory updates through a local lens.
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