In this weekly finance news wrap with Paige Estritori, the spotlight shines on mortgage rates influencing Australian homeowners and financial markets. The Reserve Bank of Australia maintains the cash rate at 4.35%, receptive to future adjustments based on ongoing economic data. Despite the softening goods inflation, high services inflation persists driven by domestic demand and costs, impacting household spending and housing investments. Highlighting the housing affordability crisis, families in New South Wales now contribute an astounding 58.5% of their income to mortgages. Other states mirror these struggles, while ACT and NT residents present more comfortable affordability. An unexpected 16.8% rise in first-time home buyers last quarter suggests shifting dynamics. Ubank, a National Australia Bank subsidiary, have proactively adjusted their mortgage rates preceding the RBA meeting. The key to navigate these financial landscape shifts is understanding the dynamics and capitalising on available opportunities.