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Today: 30-year fixed ticked up to 6.73% as Iran-driven oil volatility pushes yields higher, builder confidence limped to 35 with the South region posting the weakest HMI at 31, and Balfour Beatty completed 19 new homes at Fort Jackson Family Homes.
Mortgage rates nudged higher to start the week. The average top-tier 30-year fixed moved to 6.73%, up from last Thursday's 6.69% low. Iran's seizure of a UAE tanker in the Strait of Hormuz pushed oil prices and bond yields up in tandem. For Columbia listing agents: price reductions on homes sitting past 30 DOM should factor in buyer rate sensitivity at these levels. Rates briefly dipped below 6% in February, triggering a refi wave that has since faded. Do not expect a repeat soon. (Mortgage News Daily, MBS Recap, MBS Morning)
Builder confidence stuck well below neutral. The NAHB/Wells Fargo HMI inched to 35 in August, the 16th consecutive month below 40. The South fell two points to 31, the weakest region nationally. 35% of builders cut prices (average 6% reduction), and 63% offered sales incentives. For Richland and Lexington County new-construction buyers: negotiate hard on incentives, rate buydowns, and upgrade packages. Spec builders are hurting more than custom builders, so entry-level new builds have the most room to deal. (RISMedia)
Housing starts and permits data due today (August 18). Consensus expects modest declines consistent with the current trend. Pending home sales data also drops Tuesday. Watch these releases for signals on whether Columbia's permit pipeline is holding or softening further. (Investing.com, Continuum Economics)
Cash sales share easing nationally. Cash purchases fell to 31.4% of sales in early 2026 (down from 32.3%), with total cash transactions dropping 11.2% year-over-year. National median price growth has nearly stalled at 0.2%. For Columbia investors: the cash buyer advantage is weakening as inventory builds. Financed buyers have more leverage than they have had in three years. Sellers should weigh cash-offer certainty (29-day average close) against potentially higher financed offers. (Realtor.com Research)
Kennedy Wilson absorbed Toll Brothers' $2.2B multifamily and student housing platform. The $347M acquisition brought 18 apartment and student housing properties plus a 29-site development pipeline under Kennedy Wilson's umbrella. The firm's president of multifamily development, John McCullough, confirmed the full Toll Brothers apartment living management team transitioned over. For Columbia multifamily investors: national institutional capital continues consolidating apartment platforms at scale. If you are considering selling a 20+ unit property, institutional buyers are actively acquiring through platform deals, not just individual assets. Price your portfolio exit accordingly. (Commercial Observer)
DSCR (Debt Service Coverage Ratio) loans remain the primary tool for investor acquisitions. DSCR = rental income / monthly housing expense. A property renting for $5,000/month with $4,000 in monthly costs produces a 1.25 DSCR. Non-QM lending hit roughly $239 billion in 2025, about 10% of total origination volume, with DSCR loans at 29% of that mix. For Richland County investors buying rental properties: if the numbers work on a DSCR basis, you can close without W-2 documentation. Bank statement loans (34% of non-QM volume) serve self-employed buyers. Talk to lenders who offer these products before assuming you do not qualify. (HousingWire)
BiggerPockets partnered with Mynd for full-service property management. Pro members save $500 per property onboarded (up to $10,000). Mynd covers leasing, tenant screening, rent collection, maintenance, and financial reporting. For Columbia landlords scaling past 2-3 doors: evaluate whether professional management pencils out versus self-managing. The math usually tips at 5+ units, especially across multiple submarkets (say, Five Points student rentals plus Forest Acres SFRs). Review fee structures and local vendor networks before signing. (BiggerPockets)
Lease red flags worth reviewing for Columbia landlords and tenants. Key reminders: every fee must be explicitly listed in the lease, "general maintenance" clauses without definitions create liability, verbal promises about repairs are unenforceable unless written into the lease, and below-market pricing is often a scam indicator on open listing platforms. For Columbia property managers: audit your lease templates. SC landlord-tenant law (SC Code Title 27, Chapter 40) governs repair obligations. Vague language invites disputes. (Redfin Blog)
HUD rolled back energy code requirements to 2009 IECC standards for HOME and HTF programs. Following an NAHB legal victory, HUD rescinded the 2021 IECC mandate. The less-stringent 2009 standard applies to all HOME- and HTF-assisted new construction. NAHB estimated the 2021 standards added $9,600 to $21,400 per new home and could take up to 90 years to recoup. For Columbia affordable housing developers using HOME funds: your compliance target is now 2009 IECC/ASHRAE 90.1-2007. This reduces per-unit costs and removes a barrier that was pricing affordable projects out of feasibility. (NAHB)
21st Century ROAD to Housing Act signed into law, implementation is the risk. The most significant housing legislation in years passed with bipartisan support, but 50+ provisions require new regulations before taking effect. Historical precedent is not encouraging: the 2016 Housing Opportunity Through Modernization Act took seven years for final regulations and still is not fully implemented. For Columbia builders and lenders: do not change business plans based on ROAD provisions yet. Monitor implementation timelines. The law's promise to reduce bureaucracy in HOME program applications (one SF case hit $1.1M per unit with a 359-page application) would be transformative if actually executed. (HousingWire)
Mortgage critical defect rate jumped to 1.71% in Q1 2026. Up from 1.38% in Q4 2025, driven by compliance defects (26% of all defects, highest since Q1 2021) and the February refi surge. FHA loans remain disproportionately defective at 32.27% of defects versus 24.46% of reviews. For Columbia originators: tighten QC on refinance files and FHA loans. Compliance errors are the leading defect category for the fourth straight quarter. (HousingWire)