On this Weekly Finance News Wrap, we discuss key developments in Australia's finance sector. Commonwealth Bank registers a modest rise in first-quarter 2025 profits, largely due to growth in home loans and a surge in household deposits. However, lower mortgage rates due to competition are causing a decrease in net interest margin. Other leading banks such as Westpac, National Australia Bank, and ANZ are modifying strategies to cope with low interest rates and competition. In car finance, ASIC's recent review reveals lenders levying high fees and a worrying incidence of early defaults, prompting calls for industry reforms. Rapidly rising living costs are pushing Australians towards premium used cars, with a considerable 51% demand increase for vehicles priced above AUD 40,000. In these fast-changing financial circumstances, thorough research and an informed approach are recommended. For more details, please visit financialservicesonline.com.au.

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