Mortgage News Update - October 2025
October 2025 Mortgage Market Update for Upstate South Carolina
What Buyers and Homeowners in Greenville, Spartanburg & Beyond Should Know
Mortgage rates are finally showing signs of relief. As of mid-October, the national average for a 30-year fixed mortgage dipped to 6.27%, one of the lowest rates we’ve seen in 2025. Here in the Upstate—where buyers in markets like Greenville, Spartanburg, and Anderson are actively shopping for affordable homes—this shift could be the window of opportunity many have been waiting for.
What’s Driving the Change?
Federal Reserve Policy: After a small benchmark rate cut in September, optimism is growing that further easing could continue into early 2026. This has pushed mortgage rates slightly downward across the board.
Improving Homebuilder Confidence: New construction is picking up again in South Carolina, with local builders noting an increase in buyer interest as rates decline—even modestly.
Strong Local Demand: While affordability remains a concern, Upstate South Carolina continues to attract first-time buyers, remote workers, and retirees relocating from out-of-state, all of which are helping to stabilize our regional housing market.
Local Lending Insight from Pathway Mortgage
At Pathway Mortgage, we’re seeing increased activity from first-time homebuyers, especially in fast-growing areas like Boiling Springs, Simpsonville, and Travelers Rest. These buyers are eager to act while rates are more favorable—but they also need guidance navigating a competitive and sometimes confusing mortgage landscape.
For homeowners, we’re fielding more questions about refinancing opportunities, especially for those who purchased at peak rates in 2023–2024. While refinancing doesn’t yet make sense for everyone, we’re happy to run the numbers with you.
One Caveat: Government Shutdown Could Delay Some Closings
For buyers purchasing in flood zones near lakes or rivers (such as Lake Hartwell, Lake Keowee, or Tyger River), be aware: the ongoing government shutdown has delayed renewals for the National Flood Insurance Program (NFIP). This could temporarily impact closings that require flood insurance—so work closely with your lender to plan ahead.
Bottom Line for Upstate Buyers
If you’ve been on the fence, this may be your chance to lock in a better rate before the next market shift. Whether you’re buying, refinancing, or just exploring your options, Pathway Mortgage is here to walk with you every step of the way—right here in your own backyard.
📞 Ready to talk? Contact us today and let’s find the right path to your home.
