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Today: Mortgage rates held essentially flat with the 10-year Treasury at 4.70%, U.S.-Canada tariff escalation threatens plywood and cement costs for Midlands builders, and Fannie Mae fired a dozen senior executives including its chief economist, raising stability concerns for the secondary market.
New home sales data due Tuesday. July new home sales numbers release today (Aug. 25). Previous months showed sales at their weakest pace since 2017, with builders bleeding margin on concessions and labor shortages. Builders nationally are sitting on 300,000 vacant lots, enough to close 6.3% of the housing deficit, but can't move the inventory they've already built. Columbia-area builders offering buyer concessions should track this release to benchmark whether local incentives are competitive with the national trend.
Building permits, new home sales, and consumer confidence due Tuesday
U.S.-Canada tariff escalation hits building materials. President Trump imposed 50% tariffs on Canadian plywood, engineered wood, and Portland cement. Canada plans dollar-for-dollar retaliation starting Sept. 8. Canadian Portland cement accounted for roughly 16% of U.S. imports in 2025. While softwood lumber is exempt under existing Section 232 tariffs, the plywood and cement duties will push up framing and foundation costs for new construction in the Midlands. Builders with active permits should lock material pricing now. NAHB is urging exemptions for building materials.
Realtor.com: rents down 1.4% nationally, three straight years of declines. Asking rents have fallen for 36 consecutive months but remain 15% above pre-pandemic levels. The buy-vs-rent gap still heavily favors renting nationwide, though several Southern markets are narrowing. Columbia landlords should watch Thursday's Freddie Mac rate update and the Case-Shiller index (Tuesday) to gauge whether the local rent-vs-buy calculus is shifting.
iBuyer activity worth monitoring for Columbia sellers. Multiple national sources profiled cash-offer and iBuyer models this week. NC Homebuyers (Raleigh) quoted 15-21 day closings on as-is offers. For Columbia agents advising sellers who need speed, particularly inherited properties, military PCS relocations, or distressed situations, an iBuyer offer can serve as a floor price to negotiate against. Know the spread: iBuyers typically buy 10-15% below market, so traditional listing nets more for sellers with time.
Pet policy as competitive advantage. Fewer than 10% of U.S. rentals offer truly open pet policies (no breed or weight restrictions). "Pets allowed" is the most-used amenity filter on Zillow. 44% of renters have passed on a property because it prohibited pets. Columbia landlords with flexible pet policies can capture demand that restrictive competitors are turning away. Consider a pet deposit or monthly pet rent rather than blanket bans, and market your policy prominently in listings.
Eviction cost management. NYC-focused data, but the principle applies everywhere: missed rent, not legal fees, is the largest cost of an eviction. In South Carolina, where eviction timelines are shorter than NYC, landlords should still prioritize tenant screening and rent guarantee products over relying on security deposits alone. SC caps are less restrictive than New York's, but a default still costs months of lost income plus turnover.
Real Brokerage and RE/MAX merger complete; trading as REAX. The combined entity now operates 180,000+ agents across 120+ countries. Real's cloud-based brokerage model and AI tools will integrate with RE/MAX's franchise network. Columbia RE/MAX agents and broker/owners: no immediate operational changes, but expect technology platform migrations in coming quarters. Independent brokerages should evaluate whether the combined entity's tech stack changes competitive dynamics locally.
Wire fraud remains the #1 threat in title and escrow. Nearly 80% of title firms faced a fraud attempt in the past year. Over 11% of victimized firms lost more than $1M. Only 14% recovered every dollar, down from 18.5% the prior year. Columbia title companies and closing attorneys: verify wire instructions by phone on every transaction, use industry-specific fraud prevention tools, and brief your clients on email spoofing risks before closing week.
What 800 title and escrow professionals shared about wire fraud
Unlock exits Minnesota after AG labels home equity agreements illegal. The Minnesota AG secured nearly $1M in consumer relief. HEA (Home Equity Agreement) products, where a company takes an ownership stake in your home in exchange for cash, face growing regulatory scrutiny. South Carolina has not taken similar action, but Columbia agents should be aware of these products when clients mention non-traditional equity access options. Steer clients toward conventional HELOCs or cash-out refis where terms are clearer.
Origination costs hit $11,898 per loan; industry structural problems persist. The cost to originate rose 50% through the "digital mortgage" era, with two-thirds going to personnel expense. This isn't a Columbia-specific problem, but it explains why borrowers see elevated closing costs. For agents advising buyers: set expectations early on lender fees, and shop at least three lenders to find competitive origination pricing.