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July 7, 2026
Today: Foreclosures are creeping back to 2019 levels with REO homes selling at a 27% discount, mortgage rates held flat near 6.6% for the 7th week, and NAR is pushing members to report unauthorized Realtor trademark use as part of its brand protection push.
Mortgage rates remained steady after the July 4 weekend with the 30-year fixed averaging 6.6%, staying near the highest levels in 10 months. Rates have held in a narrow range for six to seven weeks with no major breakout in either direction. Light trading volume around the holiday suggests the real test comes this week, but for now the message to Richland County buyers is unchanged: rates are not coming down anytime soon. Mortgage News Daily, Mortgage News Daily - ISM Data
Foreclosures are rising from pandemic lows and have returned to roughly 2019 levels nationwide, though still well below the Great Financial Crisis peak. The uptick reflects affordability pressure: buyers since 2023 who purchased near price peaks now face adjustable-rate resets, rising property taxes, insurance premium hikes, and HOA increases while home equity remains thin. REO homes (bank-owned after failed auctions) now make up 1.3% of active listings and sell for a median discount of 27.2% below estimated value. They draw 26.5% more page views than typical listings but spend 11 extra days on market. For Columbia investors tracking distressed inventory, this is the new baseline. Watch for REO concentration in lower-cost submarkets and expect longer marketing times even with discounts. Realtor.com Research
New home sales nationally dropped 7% year-over-year in May to 580,000 (seasonally adjusted), with completed home sales down three straight months and off more than 30% since November. New home inventory hit 496,000 units, equal to over 10 months of supply, one of the worst readings in nearly 20 years. Median new home prices are declining. For Richland County agents working with builders, this signals pricing pressure and flexibility on incentives. Builders sitting on spec inventory will deal. Push for rate buydowns and closing cost credits. Mortgage News Daily - Opinion
Foreclosure discount data shows REO homes selling at 27.2% below estimated value, the largest opportunity for Columbia investors willing to handle longer marketing times and concentrated inventory in lower-priced areas. The discount was even steeper during the hot market when fewer foreclosures were available. Now that inventory is normalizing to pre-pandemic levels, distressed opportunities are returning. Target properties in submarkets with thin equity cushions (2023-2024 buyers) and rising carrying costs. Structure offers assuming deferred maintenance and factor in the 11-day DOM premium. Realtor.com Research
Multifamily debt markets remain active despite rate pressure. A 564-unit luxury tower in Jersey City's Journal Square secured $180 million in floating-rate bridge financing from Affinius Capital, with Walker & Dunlop arranging. Journal Square continues attracting institutional capital as a transit-oriented submarket. For Columbia investors watching capital flows, multifamily refinancing at this scale signals lenders are still underwriting deals in strong submarkets near transit and employment centers. Apply that lens to Columbia's own transit-adjacent zones and employment hubs near Fort Jackson and USC. Commercial Observer - Jersey City
HELOCs and equity-backed lending are growing faster through tech-forward platforms than traditional manual frameworks. Figure's whitepaper shows nearly a third of national HELOC market growth over the past three years flowed through lenders connected to its infrastructure. For Columbia property managers and investors advising clients on cash-out strategies or equity access, point them toward tech-enabled HELOC platforms with faster underwriting and better rate shopping. Mortgage News Daily - Opinion
NAR is escalating Realtor trademark enforcement and directing members to report brand misuse through its updated Trademark Protection Program and Brand Infringement Intake Form. The association restructured its legal team in 2025 to prioritize brand protection and is now using AI tools to identify infringement earlier than ever. Violators must provide written assurance of compliance or face legal action. For Columbia agents, this means verifying all marketing materials, websites, and social media comply with NAR trademark guidelines. Review the trademark video series and toolkit NAR released earlier this year. HousingWire - NAR Trademark
The IDX debate is heating up with some brokerage leaders questioning whether the Internet Data Exchange (broker-to-broker listing sharing) should continue. The argument: large brokerages like Compass (now 340,000 agents after acquiring Anywhere) can hold inventory as Private Exclusives or Coming Soon and control the buyer, lead, and data without sharing across IDX. Removing IDX would shift advantage to the largest companies, shrink independent and mid-size broker reach, and funnel more consumer searches to portals like Zillow. For Columbia brokers, the message is clear: IDX protects competitive parity. If sharing stops, the firms with the most listings win, and sellers lose exposure. HousingWire - IDX Debate
TitleEase integrated with Contract2Close, allowing agents and loan officers to order title services directly within the transaction management platform. The integration eliminates friction by embedding title ordering into existing workflows. For Columbia agents using Contract2Close, this streamlines closings and reduces the title order workflow to a few clicks. HousingWire - TitleEase
NRMLA is urging HUD to loosen FHA property rules that disproportionately impact rural and senior borrowers seeking reverse mortgages. The association wants performance-based standards for shared wells, clearer guidance on swimming pools, flexibility on repair verification (eliminating redundant Form 1004D inspections), and simpler water purification requirements. For Columbia agents working with older clients or rural Richland/Lexington County properties, current FHA rules add cost and delay. If HUD adopts NRMLA's recommendations, HECM eligibility broadens and transaction friction drops. HousingWire - NRMLA
Zillow's iBuyer shareholder lawsuit is pushing for a new trial date of August 2, 2027, after the Supreme Court requested a response from plaintiffs' lawyers as it considers Zillow's appeal. The case accuses Zillow of misleading statements about its iBuying business, which it abandoned in 2021 with an estimated $550 million loss. The Supreme Court's decision to request a response suggests the appeal remains active. RISMedia - Zillow Lawsuit
Compass faces a Florida class-action lawsuit over a $475 buyer transaction fee added to purchase contracts. Plaintiffs argue the fee was unlawfully charged as an "additional term" to standard contracts. Compass says the fee is standard. For Columbia agents, the case highlights ongoing scrutiny of buyer fees post-settlement. Review all transaction fee disclosures and ensure compliance with current buyer representation agreements. RISMedia - Compass Lawsuit
Market Status: Rates flat, foreclosures normalizing, new home inventory bloated, and institutional capital still flowing to multifamily in strong submarkets. The Columbia market mirrors national trends: affordability pressure is real, distressed inventory is rising, and the firms with the most control over data and listings are positioning for advantage. Stay sharp on compliance, leverage tech platforms for equity access, and watch for REO opportunities in thin-equity submarkets.