The average interest rate for 30-year fixed-rate jumbo mortgages increased to 4.18% from 4.15%. Read the full report. [Mortgage Bankers Association] New research by BIS Shrapnel finds that Sydney is more affordable than it was 26 years ago…at least when it comes to mortgages. In 1989, when interest rates were at 17%, homebuyers were spending about half of their income on mortgage payments. Today, with interest rates at historic lows, buyers spend around 35.9% of their income on mortgages. [Domain] An unidentified Qatari investor is looking to construct a $250 million mega-penthouse at 220 Central Park by combining several apartments within the tower. [NY Daily News] The New York Times offers a property overview and buying guide for Spain’s rebounding luxury market, of which we informed you previously[The New York Times] The National Australia Bank Ltd. reports that rising home prices across the nation are unlikely to be curbed by limiting mortgage lending to investors, given the strong demand from foreign buyers. [The Business Times] Thai luxury condominium project Southpoint Pattaya is offering buyers a 20-year visa, international loan facilities and fast track immigration, via a number of domestic partnerships. [ETN Global Travel Industry News] A 411-square-foot “micro-loft” on the edge of San Francisco’s Tenderloin District, with one window and a skylight, has sold for $465,000, or around $1,690 per square foot. [CBS Local] The Sydney Morning Herald and Domain offer a breakdown of the 14 Sydney suburbs that have posted a 100% property auction clearance rate in the past three months. [Domain] Analysts believe luxury home prices in Singapore have bottomed out with ultra-high-net-worth individuals slowly returning to the market. [CNBC] Dwindling real estate transactions are stoking developer concerns about luxury property oversupply in Downtown Dubai. [Gulf News]
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