The South Carolina Department of Consumer Affairs reports mortgage applications hit their highest level since 2021, with refinances making up a larger share of activity.
Based on a release from S.C. Dept. of Consumer Affairs.
COLUMBIA, S.C. — Mortgage brokers and lenders in South Carolina processed 200,286 mortgage applications in 2025, a 9.5% increase over 2024’s 181,343 applications, according to the South Carolina Department of Consumer Affairs’ 2025 Mortgage Log Report.
The figure is the highest number of applications reported since 2021, when 304,914 applications were filed, according to the agency. Applications totaled 192,163 in 2022 and 174,912 in 2023.
The average annual percentage rate decreased slightly to 6.5% in 2025, compared with 6.8% in 2024, according to the report.
The lower APR appeared to affect why applicants sought mortgages, with 34.6% of applications filed for refinancing, according to the department. That is a 6.2% increase over 2024’s 28.4% and a 13% increase compared with 2023’s 21.3%.
The average appraised value of property increased approximately 6%, or $23,000, to $404,000, according to the report. That mirrors the increase seen in 2024, when values rose $24,000 to $381,166. The 2025 figure is nearly $80,000 more than the value reported in 2021, which was $325,156, according to the department.
Average loan amounts increased approximately 4% to $288,169, according to the report.
Applications for manufactured housing declined to 10.7% in 2025, nearly reversing a rise seen in 2024, when such applications made up 13.5% of the total. In 2023, manufactured housing applications were 10.5%, according to the department.
The full 2025 Mortgage Log Report is available on the department’s website. The South Carolina Department of Consumer Affairs encourages consumers considering refinancing or purchasing a home to check business licenses and search for complaints at consumer.sc.gov before signing any agreement.
