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Today: 30-year fixed hit 6.74% as July payrolls fell 23,000, USC's newest student housing complex opened, and Congress escalated pressure on Compass and MRED over private listing practices that could cost Columbia sellers money.
30-year fixed rates dropped to 6.74% by Friday, down from 6.77% earlier in the week, after July payrolls fell 23,000 versus an expected gain of 80,000. The unemployment rate ticked down to 4.1%, but labor force participation also fell 0.1%, meaning the labor market is cooling without necessarily improving. Wage growth hit a cycle low at 3.2% year-over-year, down from 3.5% expected.
Mortgage Rates End Week at Lows | A Messy July Jobs Report
Mortgage application volume fell 2.9% for the week ending July 31, with purchase apps down 4% and refinance activity off 2%. The Mortgage Bankers Association said rates hit 6.81% during the survey period, the highest in over a year, before dropping this week. Realtor.com economist Jake Krimmel called the summer market "on cruise control" despite rising rates and labor market weakness. National existing-home sales fell 2.4% in June to 4.09 million, though inventory is up 1.3% year-over-year.
Another Modest Drop in Mortgage Apps | Weakening Job Market Raises Rate Uncertainty
For Richland County listings, this means: adjust pricing expectations for the higher rate environment, but don't panic. Inventory is improving, and the Fed is unlikely to hike in September after this jobs report. Watch next week's CPI data.
A new Columbia student housing complex welcomed its first residents this week, adding to off-campus inventory near the university. No details on unit count, location, or rents were provided in the article.
Another one: New Columbia student housing complex welcomes first residents
Student housing demand remains strong as fall semester approaches. If you have investor clients looking at the USC market, verify occupancy rates and rental comps before making offers. Fort Jackson PCS cycles (typically summer) should also be winding down, meaning military rental demand may soften into fall.
Building permits data was published for multiple markets this week, though the Columbia-specific numbers weren't detailed in the provided articles. July housing starts and permits data nationwide is due August 18, with forecasts calling for modest declines consistent with the trend.
What's going up in your neighborhood? Building permits published Aug. 8, 2026 | Preview: U.S. July Housing Starts and Permits
For agents working with builders or investors, watch for permit activity in Lexington County suburbs (Chapin, Irmo, Blythewood) where new construction still has room to run. Commercial and multifamily permits are particularly worth tracking as student housing and Fort Jackson-adjacent projects continue to draw capital.
Barry Sternlicht's Starwood acquired two affordable housing properties in Miami-Dade County for a combined $63.8 million, paying $226,660 per unit for the 150-unit Magnolia Landing and $185,900 per unit for the 160-unit Lafayette Square. Both properties are affordable housing complexes built between 2008 and 2011.
Barry Sternlicht's Starwood Buys Two Miami Affordable Housing Rentals
Multifamily cap rates remain attractive for institutional buyers, particularly in affordable housing where rent restrictions provide stable cash flow. If you have multifamily listings in the Midlands, comp against deals like this to justify pricing. The $185K-$226K per unit range is a useful benchmark for older properties with stable occupancy.
Bridge Investment Group provided $67.2 million in refinancing for a 194-unit multifamily property in Revere Beach, Massachusetts, structured as a three-year floating-rate loan for a value-add play. JLL noted Revere Beach has received over $1 billion in institutional investment since 2015.
Bridge Investment Group Provides $67M Refi for Value-Add Multifamily Outside Boston
Floating-rate debt is still available for value-add multifamily, but the spread environment is tight. If you have investor clients considering Columbia-area multifamily acquisitions, make sure they model in the cost of improvements before assuming they can refi at attractive terms.
Senator Elizabeth Warren sent a letter to Compass CEO Robert Reffkin and MRED CEO Rebecca Jensen on August 6, demanding they explain steps taken to mitigate potential harms from their private listing network partnership. Warren cited concerns about fair housing, data quality, and affordability, alleging that most MRED private listings are concentrated in majority-white neighborhoods. The letter includes 23 questions and requests for information, with responses due August 21.
Senator Elizabeth Warren Calls Out Compass, MRED in Rebuke of Private Listings
This follows a July 22 letter from House Judiciary Committee Republicans, making the private listing debate bipartisan. Compass claims its phased marketing approach (listing as Coming Soon or Private Exclusive before MLS) delivers a 4.6% premium and 34% faster sales. Zillow's research shows the opposite: homes kept off the MLS sold for 1.3% less on average, costing sellers $1.36 billion across 15 million sales from 2023-2025. Lower-priced homes lost 2.2%, and homes in communities of color lost 1.9% versus 1.1% in majority-white neighborhoods.
The off-MLS debate moves to Washington, and agents need a clear script
For Columbia agents: if you're using private listing networks, be prepared to explain the pricing premium (or discount) to sellers with data, not marketing claims. Maximum exposure is not a sales tactic, it's the seller's money on the line. If a seller asks about private listings, walk them through the Zillow study and the Compass study, then let them decide. Do not steer sellers toward private listings to capture both sides of the transaction. That's exactly what Congress is investigating.
The Gibson home seller commission lawsuit plaintiffs received court authorization to send a notice to all MLSs that opted into the NAR settlement, reminding them of their obligation to share real estate listing and commission data with plaintiffs. If an MLS objects, it has seven days to notify the court. If no objection is filed within seven days, that counts as automatic permission for third-party data providers to share the data.
Gibson suit plaintiffs can notify MLSs about settlement data duties
This affects SCREC compliance and MLS data access. If you're using third-party data tools, expect some disruption as MLSs sort out what they must share and what they can withhold.
REMAX and Keller Williams received final approval of their Batton 1 homebuyer commission lawsuit settlements. Keller Williams will pay $20 million, REMAX will pay $8.5 million. No new business practice changes are required under the settlement terms. Class members have until August 25 to submit claims.
REMAX, Keller Williams win final approval of Batton 1 settlement
The NAR and Anywhere opt-in settlements in the Tuccori homebuyer lawsuit are up for final approval in November 2026, though four retired federal judges are challenging those settlements on forum-shopping grounds.