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21.07.26 - 01:00
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New tech wealth sparks luxury property rush in Chinese city home to ′Six Little Dragons′ (SCMP)
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A luxury penthouse in Hangzhou has set record highs for both unit price and total value of high-rise flats in the city, as new tech wealth injects fresh momentum into the market.
All 66 units at the high-end Wangtianji development's initial batch were snapped up on the first day of launch on July 16, generating 3.36 billion yuan (US$496 million) in total sales. Competition was fierce, with seven to eight bidders chasing each prime riverfront flat.
Buyers averaged 39 years old and largely......
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20.07.26 - 22:30
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30-Year Fixed-Rate Mortgage Reaches Highest Level In Almost A Year (ZeroHedge)
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30-Year Fixed-Rate Mortgage Reaches Highest Level In Almost A Year
Authored by Naveen Athrappully via The Epoch Times,
The average weekly rate on a 30-year fixed-rate mortgage is at its highest level in nearly a year, contributing to elevated housing costs and dampening buyer interest.
A home for sale in Alhambra, Calif., on Aug. 28, 2025. Frederic J. Brown/AFP via Getty Images
For the most recent week, the mortgage rate was at 6.55 percent, according to a July 16 statement by Freddie Mac. This is the highest level since the week ending Aug. 27, 2025, when the rate was at 6.56 percent. Since mid-May, rates have consistently hovered around 6.5 percent.
Rates have risen consecutively over the past two weeks, from 6.43 percent for the week ending July 1 to 6.55 percent currently.
Meanwhile, pending home sales in the country declined 2.2 percent for the four weeks ending July 12 compared to the four-week period ending July 5, according to a statement from real estate brokerage Redfin.
First-time h...
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