This week on Financial Services Online, Ubank raises variable mortgage rates and lowers fixed-rate loans ahead of the Reserve Bank of Australia's meeting. With ongoing expense, homeowners face a 40% increase in home loan costs over the past year, while households spend nearly half their income on mortgages, the greatest financial pressure seen in 20 years. Conversely, first-time homebuyer activity continues to rise. Australian government plans to cut nearly 500 import tariffs presents potential annual savings of around $30 million for businesses, with effects on approximately $8.5 billion in trade, a measure to reduce living costs and support business growth. Yet, Small and Medium Enterprises, especially those in the hospitality sector, face concerns over unpaid invoices and growing insolvency risks due to rising costs and shrinking profits. Full tariff cut details are due to be unveiled in the May budget.