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June 19, 2026
Today: 30-year fixed rates dropped to 6.47% following the Iran ceasefire, builder sentiment hit a 14-month low with 35% cutting prices, and housing starts sank to six-year lows as policy uncertainty drags on new home sales.
Mortgage rates fell 5 basis points to 6.47% this week following a ceasefire agreement with Iran and a signed framework to reopen the Strait of Hormuz. The newly seated Fed Chairman Kevin Warsh joined a unanimous 12-0 vote to hold the federal funds rate unchanged at 3.50% to 3.75%, where it has stood since December. However, Warsh used his first decision as chair to signal a broader regime change: the easing bias is gone, forward guidance has been shelved, and the committee's statement was rewritten around a single, unhedged commitment to delivering price stability. Markets responded with a jump in the 10-year Treasury and rising odds of a rate hike before year's end, which could keep mortgage rates from falling as quickly as the ceasefire alone might suggest. For buyers, the spring market has shown resilience. Contract signings climbed 3.8% in May as sellers adjusted prices to attract demand. Listing prices have now fallen year over year for seven consecutive months, and inventory remains above last year's levels. (RISMedia, Realtor.com)
Builder sentiment slipped again in June as elevated mortgage rates, higher material costs, and ongoing affordability pressures weighed on the housing market. The NAHB/Wells Fargo Housing Market Index (HMI) fell two points to 35, marking the 14th straight month the index has remained below 40. Current sales conditions slipped two points to 38, while sales expectations over the next six months held steady at 45. Traffic of prospective buyers remained unchanged at 25. Pricing pressure remained visible: 35% of builders reported cutting prices, up from 32% in May, while the average price reduction held at 6%. The use of sales incentives also edged higher to 62%, the 15th consecutive month that share has reached at least 60%. With the nation short about 1.2 million homes, builder sentiment will remain soft until barriers are eased and conditions improve for home building. (Mortgage News Daily)
Housing starts sank to six-year lows as builders worry about inflation and policy uncertainty weighs on new home sales. Single-family home starts fell 7% in 2025 as high purchase prices stifled demand and unsold new homes accumulated. Builders responded by cutting prices, buying down interest rates, and pivoting toward smaller homes, townhomes, and smaller lots to reduce costs. The economy added just 116,000 jobs in 2025, the lowest number of new jobs added in a non-recession year since 2002. With consumer sentiment near record lows and interest rates on all loans at generational highs, many young adults are not inclined to form new households, a primary driver of home sales and rentals. If you're working with first-time buyers or builders in the Columbia market, expect continued pressure on pricing and demand for entry-level inventory. (NAHB)
Probate property sales are attracting renewed attention as an as-is strategy makes sense in specific situations. When a property needs significant repairs, the estate lacks funds for renovations, multiple heirs want a quick resolution, or ongoing carrying costs are adding up, selling as-is may be the faster and more cost-effective option. In markets where investors and cash buyers actively seek homes that need work, sellers may receive competitive offers without investing in repairs. For Columbia agents working with estates, focus on properties with aging roofs, outdated electrical systems, foundation issues, or deferred maintenance where the cost of renovations may outweigh the potential return. Even when vacant, inherited homes continue generating expenses such as property taxes, insurance premiums, utilities, lawn care, and HOA dues. Selling as-is may help limit ongoing expenses and allow estates to distribute proceeds sooner. (Redfin)
Robinson Gray has been recognized by Chambers USA for its 23rd consecutive year in three practice areas: general commercial litigation, real estate, and insurance. Four Robinson Gray attorneys earned individual recognition, including Kevin Garrison, Betsy Gray, Beth Richardson, and Cal Watson. Cal Watson was also recognized in the 2026 edition of the Legal 500 US Southeast Elite for his work in commercial disputes. (Columbia Star)
Property management company LivCor agreed to pay $7 million to settle an illegal rent-fixing lawsuit. The case highlights growing scrutiny of coordination between property managers on pricing strategies. Landlords and property managers should review their pricing practices to ensure compliance with antitrust laws and avoid coordinated pricing arrangements that could expose them to legal risk. (FOX 9)
Entry-level rentals are disappearing across the country, creating opportunities for landlords willing to fill the gap. As affordability pressures push renters toward lower price points, landlords who can maintain quality entry-level units may see sustained demand. For Columbia landlords managing rental portfolios, consider strategies to serve the entry-level market, including smaller units, efficiency upgrades to reduce tenant utility costs, and competitive pricing to capture demand from renters priced out of homeownership. (BiggerPockets)