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Today: 30-year fixed hit 7.5% for the first time since April 2024, remodeling demand dropped to its lowest since early 2024, and Chapin is in court over a Brighton development dispute.
Mortgage rates crossed 7.5% this week, matching the highest level since April 30, 2024, per Freddie Mac. The 30-year fixed averaged 7.03% as of September 24 before spiking higher, and Mortgage News Daily reported top-tier lenders now quote 7.50% on conforming loans. Source
For Richland County, that means buyers are either waiting or walking. Affordability is compressing fast. A $300K home at 7.5% costs $2,098/month (P&I only), versus $1,865 at 6.5%. That's $233/month, or $2,796/year, for the same house. Adjust pricing expectations now, especially on listings that have been sitting since rates were sub-7%.
Worst-case scenarios include 9% rates if the economy stays hot, oil prices remain elevated due to the Iran conflict, and the Fed stays hawkish. Source Even 8% is difficult to model, but bond yields would need to clear 6% and mortgage spreads would need to widen further. Watch the 10-year Treasury: if it breaks above 5.3%, expect another leg up in mortgage rates.
Homeowner remodeling interest stalled in Q3 2026, tracking toward its weakest reading since early 2024, per Point's Homeowner Remodeling Index. Nearly 62.5% of home equity investment inquiries referenced renovation in Q3, down from 64.9% in Q2. Source That matters for contractors and real estate agents advising sellers on pre-list improvements: fewer buyers are tapping equity to upgrade, which means turnkey condition is worth more in this market.
Chapin is in court asking a judge to dismiss a lawsuit tied to the Brighton development near Lake Murray. Source No details on the nature of the dispute are available from the article, but any litigation involving municipal approval or development near Lake Murray is worth tracking. If you represent buyers or investors targeting Chapin, Irmo, or the Lake Murray corridor, pull permits and zoning records before making offers. Disputes over approvals can delay projects or kill deals entirely.
National building permit data shows activity in other Sunbelt markets, but no Columbia-specific permits were reported today. For local permit tracking, check Richland County and Lexington County's online portals directly.
Unauthorized pets are costing landlords an average of $7,000 per incident when not disclosed upfront, per a BiggerPockets analysis of repair costs and insurance gaps. Source Standard renter's insurance excludes pet damage to the unit, and insurers paid $1.86 billion on 28,450 dog-related injury claims in 2025, averaging $65,450 per claim. For Columbia landlords, that means requiring proof of pet insurance and documenting pet addendums at move-in. If a tenant adopts a dog mid-lease and doesn't disclose, you have no pet addendum, no description of the animal, and nothing signed. Disputes over security deposit deductions default to the tenant unless you can prove the damage.
Rent collection automation is saving landlords roughly 52 hours per year, per a case study from a three-unit property manager. Source Autopay, automated reminders, and automated late fees eliminate the moral decision of whether to charge a fee each month. For Columbia property managers juggling USC student housing turnover and Fort Jackson PCS cycles, that's time better spent sourcing deals or managing rehabs.
NAHB is pushing back on federal immigration enforcement due to labor shortages. The construction industry is short roughly 300,000 workers, and immigrant workers account for more than one-quarter of the construction workforce. Source The skilled labor shortage adds two months to construction timelines and reduces annual housing production by 19,000 homes, costing builders $2.663 billion annually. For Columbia, that means longer timelines on new construction and higher labor costs on renovations. Set expectations with buyers accordingly.
Mortgage origination costs remain stuck around $11,000 per loan despite years of technology investment, per MBA Quarterly Performance Report data. Source Compensation accounts for roughly two-thirds of direct cost to originate, while technology accounts for about 4%. The article argues that technology alone won't fix the problem without process discipline. For brokers and loan officers in Columbia, that means efficiency gains come from workflow design, not just buying more software.
UWM's Mat Ishbia is backing VantageScore 4.0 and reported that UWM's Underwriter+ program results are "off the charts." Source No specific performance metrics were disclosed, but the endorsement signals potential expansion of credit access for borrowers who don't fit traditional FICO models.
Brixmor Property Group partnered with Everview Partners to acquire Slate Grocery REIT for $2.34 billion, adding 115 grocery-anchored retail centers totaling 15.7 million square feet. Source Brixmor will own 23 assets outright in Florida, Georgia, and the Carolinas. Watch for any Columbia or Midlands assets in that portfolio; grocery-anchored retail is stable cash flow in this rate environment.