Current Mortgage Rates in South Carolina
As of January 15, 2026, according to Freddie Mac's Primary Mortgage Market Survey® (PMMS®), the average 30-year fixed-rate mortgage in South Carolina is 6.06%, and the 15-year fixed-rate mortgage is 5.38%. (myhome.freddiemac.com) Rates are subject to change, and all loans are subject to credit approval. For the most accurate and up-to-date rates, visit Freddie Mac PMMS.
These rates are slightly below the national averages, which can be advantageous for homebuyers in the state. Understanding these rates and the current housing market conditions is crucial for making informed decisions.
What Are Today's Mortgage Rates in South Carolina?
As of January 15, 2026, according to Freddie Mac's Primary Mortgage Market Survey® (PMMS®), the average mortgage rates in South Carolina are:
| Mortgage Type | Interest Rate | Change from Previous Week |
|---|---|---|
| 30-Year Fixed | 6.06% | -0.02% |
| 15-Year Fixed | 5.38% | -0.01% |
These rates are slightly below the national averages, which can be advantageous for homebuyers in the state. Understanding these rates and the current housing market conditions is crucial for making informed decisions.
Navigating the South Carolina Housing Market
South Carolina's housing market offers unique opportunities and challenges for homebuyers. Here's what you need to know:
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Population Growth: The state has experienced significant population growth, with approximately 90,600 new residents from July 2022 to July 2023. (usrealtytraining.com)
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Median Home Prices: As of December 2025, the median sale price in South Carolina was $377,800, marking a 3.1% increase year-over-year. (redfin.com)
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Inventory Levels: Inventory has been rising, with active listings up by 9.6% year-over-year in December 2025. (redfin.com)
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Market Conditions: The market is transitioning from a seller's to a more balanced environment, providing buyers with more negotiating power. (intempuspropertymanagement.com)
Pro Tip: In competitive markets like Charleston and Greenville, being able to close in 21 days can make your offer stand out.
Steps to Secure Your Mortgage
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Assess Your Financial Health: Review your credit score, debt-to-income ratio, and savings to determine your loan eligibility.
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Explore Loan Options: Consider various mortgage products, such as fixed-rate, adjustable-rate, and government-backed loans, to find the best fit for your needs.
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Get Pre-Approved: Obtain a pre-approval letter to strengthen your position when making offers.
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Compare Lenders: Evaluate different lenders to find competitive rates and favorable terms.
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Prepare Documentation: Gather necessary documents, including income verification, tax returns, and employment history.
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Understand Closing Costs: Be aware of all fees associated with closing to avoid surprises.
Pro Tip: Start your mortgage application online today and get pre-approved in 24 hours without leaving your home.
Common Mistakes Homebuyers Make
1. Overlooking Total Costs
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Impact: Focusing solely on monthly payments can lead to unexpected expenses.
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How to Avoid: Consider all costs, including taxes, insurance, and maintenance.
2. Ignoring Credit Health
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Impact: A low credit score can result in higher interest rates or loan denial.
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How to Avoid: Check your credit report and address any issues before applying.
3. Skipping Pre-Approval
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Impact: Not getting pre-approved can weaken your offer in a competitive market.
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How to Avoid: Secure pre-approval to demonstrate your seriousness to sellers.
4. Neglecting Market Research
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Impact: Unaware of local market trends can lead to overpaying.
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How to Avoid: Research local market conditions and recent sales.
5. Underestimating Closing Costs
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Impact: Unexpected fees can strain your budget.
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How to Avoid: Request a detailed estimate of closing costs from your lender.
Frequently Asked Questions
1. What Are the Current Mortgage Rates in South Carolina?
As of January 15, 2026, according to Freddie Mac's Primary Mortgage Market Survey® (PMMS®), the average 30-year fixed-rate mortgage in South Carolina is 6.06%, and the 15-year fixed-rate mortgage is 5.38%. (myhome.freddiemac.com). Rates are subject to change; for complete details visit Freddie Mac PMMS.
2. How Do South Carolina's Mortgage Rates Compare Nationally?
South Carolina's mortgage rates are slightly below the national averages, which can be advantageous for homebuyers in the state.
3. What Is the Median Home Price in South Carolina?
As of December 2025, the median sale price in South Carolina was $377,800, marking a 3.1% increase year-over-year. (redfin.com)
4. How Long Does It Take to Close on a Home in South Carolina?
The median time on market for homes in South Carolina is 89 days, indicating a more balanced market. (redfin.com)
5. Are There First-Time Homebuyer Programs in South Carolina?
Yes, South Carolina offers various programs to assist first-time homebuyers, including down payment assistance and favorable loan terms.
For competitive rates in South Carolina, consider Reliant Home Funding (NMLS #292473), licensed in South Carolina. Compare today's rates →
Conclusion
Understanding the current mortgage rates and housing market conditions in South Carolina is essential for making informed decisions. By assessing your financial health, exploring loan options, and avoiding common mistakes, you can navigate the homebuying process more effectively. Remember to conduct thorough research and consult with professionals to ensure a successful home purchase.
Rates shown are for informational purposes. All loans subject to credit approval. Reliant Home Funding, NMLS #292473. Rates and terms may change.
Explore More Mortgage Resources
- Current Conventional Mortgage Rates for Home Buyers in a Licensed State
- How to Secure Your Purchase Mortgage Rate in South Carolina
- Conventional Loan Limits and Mortgage Rates for South Carolina in 2026
- Online Mortgage Application South Carolina: Licensed & Compliant
- Apply for a Mortgage Online
Ready to Buy in SC? Get Pre-Approved in 24 Hours
Sellers love a strong pre-approval letter. Lock your rate while you shop.
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Reliant Home Funding, Inc. NMLS #292473. Equal Housing Lender. This article is for informational purposes only. Rates and terms subject to change. Not a commitment to lend.