Why are mortgage rates still high in 2026?

Mortgage rates remain elevated mainly because they track the broader bond market and Federal Reserve policy, both of which respond to inflation and overall economic conditions rather than local housing demand. Even after a period of Fed rate cuts, mortgage rates do not move in lockstep with short-term rates, since lenders also price in inflation expectations and investor demand for mortgage bonds. No single local factor in Charleston or the Lowcountry controls this number. Brian Beatty can help a buyer plan around current rate conditions rather than wait for a shift that is hard to time.