In this week's Finance News Wrap, we delve into the Government's new Home Guarantee Scheme which allows first-time buyers to bypass lenders' mortgage insurance with just a 5% deposit. Critics warn this could inadvertently escalate home prices, potentially making property ownership unattainable for nearly 6,500 low-income buyers. Despite these concerns, advancements of similar government programs are aimed at promoting home ownership. Additionally, the financial landscape faces dramatic changes with July's interest rate cuts and tax relief initiatives expected to boost household spending and Australia's broader economy. However, the Australian Dollar is under strain amidst uncertainty around the Federal Reserve's stance on interest rates and U.S. economic growth. Finally, potential import cost increases and inflation impacts pose challenges. Stay tuned to Financial Services Online for all your personal and business loan finance needs.n