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Today: 30-year fixed hit 7.12% (highest since May 2024), nearly 10% of borrowers shifted to ARMs to escape rate pressure, and national single-family starts rebounded 7.6% in August while mortgage applications continue sliding.
The 30-year fixed rate climbed to 7.12% last week, up from 6.97% the prior week and the highest level since May 2024, according to MBA data. Mortgage demand slips again as rates push past 7%, Nearly 10% of borrowers opted for riskier mortgages last week
For Richland County, this means continued affordability pressure on move-up buyers and first-time buyers stretching for student housing properties near USC. The MBA reported mortgage applications fell 1.5% week-over-week, with refinance applications down 3% and hitting the slowest pace since February 2025. If you're pricing listings or advising buyers, assume financing costs are climbing and buyer hesitation is rational, not negotiable.
ARM share jumped to 9.8% of applications as borrowers hunted for relief. The 5/1 ARM averaged 6.10%, more than a full percentage point below the 30-year fixed. That spread matters for USC-area investors buying student rentals or Fort Jackson military housing plays where the hold period may be under 10 years. If a client is considering an ARM, make sure they understand what happens when the fixed period ends and rates adjust.
National single-family housing starts rebounded 7.6% in August after prior weakness. U.S. Single-Family Housing Starts Rebound 7.6% in August Builder activity is stabilizing but not surging. For Columbia, this suggests new subdivision competition in Blythewood or Lexington won't flood the market overnight, but existing inventory pressure isn't going away either.
J.P. Morgan Chase sold a 366-unit garden-style multifamily property in Wellington, Florida for $105.5 million ($288,000 per unit) after holding it for 24 years. JP Morgan Chase Sells South Florida Rental for $106M That per-unit pricing provides a benchmark for Midlands multifamily valuations. Columbia's lower cost basis and USC student demand may support similar cap rates if the asset is well-located and maintained.
Dwight Investment Management provided $42 million bridge financing for a 288-unit property near Texas A&M in College Station, with plans to transition to long-term HUD financing. Dwight Investment Management Provides $42M Refi for College Station Apartments The deal structure (bridge now, HUD later) is common for student housing plays. If you're working with clients on USC-area multifamily, this is the playbook: stabilize occupancy, lock in HUD long-term debt, and hold.
Millrose Properties plans a $1 billion bond offering to fund homesite acquisitions tied to the Dream Finders-Beazer merger. Millrose plans $1 billion bond sale to fund homesite growth The capital is financing a land-banking platform that delivers finished lots to builders on a just-in-time basis. For Columbia, this signals that national builders may shift toward optioned land rather than balance-sheet ownership, which could affect lot availability and absorption pace in Lexington County subdivisions.
Office tenants should now negotiate cellular coverage as a lease issue, not an afterthought. Wireless carriers have pulled back from funding in-building distributed antenna systems (DAS), leaving building owners to cover the cost and pass it through to tenants. Office Tenants Should Negotiate Cell Coverage Like a Lease Issue For Columbia office landlords and tenants, this means defining coverage standards, testing methodology, cost allocation, and self-help rights in the lease. If you're representing a tenant in a Vista or Main Street office deal, add cellular signal to the due diligence checklist.
The Uniform Appraisal Dataset (UAD) 3.6 is coming. Agents and brokers should prepare now by understanding the new data fields and accuracy requirements. Appraisal Ready: What Agents and Brokers Can Do Now for UAD 3.6 No implementation details were provided in the article, but the change is on the way. Watch for NAR and SCREC gui[REDACTED-INJECTION]ce.
More agents are adding a mortgage loan originator (MLO) license to stay with deals from pre-approval through closing instead of handing clients off to a loan officer. Why more real estate agents are getting their mortgage loan originator license Dual licensing means dual regulatory obligations (RESPA, TILA, mortgage licensing rules on top of real estate compliance), but it can improve continuity and referral rates. If you're considering this, treat it as a second professional obligation with its own compliance load, not a shortcut to double commissions.
Private listing transparency and MLS listing rules are moving to state legislatures. Op-Ed: Innovation Before Regulation - Not So Fast, My Friends Several states are considering legislation around private listings and consumer access to inventory. If this trend reaches South Carolina, expect compliance complexity to increase and a patchwork of state-by-state rules. The industry should address transparency issues through innovation before regulators impose 50 different solutions.
NextHome added five former Keller Williams offices and nearly 400 agents in California under its new large-office franchise model. NextHome large-office model adds 5 former Keller Williams offices The moves reflect ongoing franchise competition for large, high-producing brokerages as profitability tightens and commission structures shift post-settlement. For Columbia brokers, this signals that franchise decisions increasingly hinge on total cost of ownership, technology integration, and the ability to adapt quickly to changing business models.