Get tomorrow's brief in your inbox
July 17, 2026
Today: Mortgage rates climbed to 6.55%, the highest since August 2025. Foreclosures in Columbia hit 0.43% of housing units in the first half of 2026, second-worst among major metros nationally. Pending home sales dropped 5.4% in June as the summer market slows.
The 30-year fixed mortgage rate rose to 6.55%, up from 6.49% last week and the highest level since August 2025, driven by renewed tensions in the Middle East pushing up Treasury yields. The 15-year fixed hit 5.93%. Despite elevated rates, housing affordability is improving modestly as inventory continues to build and prices cool. Realtor.com's midyear forecast projects rates will ease to 6.3% by year-end, but the path remains uncertain as long as oil prices and geopolitical risks remain elevated. Mortgage Rates Hit Highest Level Since August 2025
Pending home sales fell 5.4% nationally in June and were down 0.3% year-over-year as the spring market momentum faded heading into summer. The South saw pending sales drop 0.9% annually. June inflation data showed headline inflation easing to 3.5% and core inflation to 2.6%, which could open the door to lower rates if the trend continues. The typical monthly payment is running 1.9% below last year's level, offering some relief. For Richland County, this means pricing strategy adjustments are critical. If you have active listings, review pricing weekly. Buyers are more selective now. Pending Home Sales Fall 5.4% in June
National housing starts data continues to show pullbacks in Canada and other markets, signaling builders are scaling back in response to rate pressure. This pattern typically precedes similar slowdowns in U.S. metros. Watch for permit data in Richland County to confirm whether local builders are following suit. If starts drop locally, expect inventory to tighten again in 6-12 months.
Foreclosures in Columbia hit 0.43% of housing units in the first half of 2026, the second-highest rate among major U.S. metros, trailing only Punta Gorda, Florida (0.5%). South Carolina statewide ranked second nationally with a 0.26% foreclosure rate. Foreclosure filings nationally were up 21% from the same period in 2025 and 28% higher than 2024, with 200,000 properties affected. Foreclosure starts in Q2 2026 increased 18% annually, while foreclosure completions jumped 33%. The average foreclosure timeline dropped to 563 days, the fastest since 2013. This is actionable. Contact lenders for REO inventory. Build lists of pre-foreclosure properties in Richland County and reach out to owners before the process completes. Investor clients should be flagged immediately. Foreclosures Rise in First Half of 2026, Report Finds
Affinius Capital provided $176.6 million in construction financing for Place at Alafaya, a 1,395-bed student housing project near the University of Central Florida in Orlando. The loan is the largest private residential construction loan in Orlando's history. The project will deliver in two phases (2028 and 2029) and includes 284 units with 800 beds in phase one. While this is a Florida deal, it confirms institutional capital is still flowing to student housing projects near major universities. For Columbia, this validates the USC off-campus housing market as a viable investment target. If you have investor clients, position USC-adjacent multifamily acquisitions or development sites as comparable to this trend. Highlight UCF's enrollment growth parallels and pitch the Columbia market as undervalued relative to Orlando. Affinius Provides $177M Construction Loan for Central Florida Student Housing