Business & Finance
Mortgage Rates Dip as Bond Rally Offers Relief to Borrowers
June 5, 2025: Declining Treasury yields lead to lower mortgage and refinance rates, presenting opportunities for homebuyers and homeowners

Mortgage rates have experienced a notable decline as of June 5, 2025, following a rally in the bond market. The average rate for a 30-year fixed mortgage has decreased to 6.91%, down from 6.97% earlier in the week. Similarly, 15-year fixed mortgage rates have fallen to 6.10%.
This downward trend is largely attributed to a drop in the 10-year Treasury yield, which has fallen to 4.414%. Mortgage rates often move in tandem with Treasury yields, and the recent decrease has provided some relief to prospective homebuyers and those considering refinancing.
Economic indicators suggest a cooling in the job market, with the ADP Employment Report showing that the private sector added only 37,000 jobs in May, the smallest monthly increase since March 2023. This slowdown has raised expectations that the Federal Reserve may consider rate cuts in the near future, further influencing mortgage rates.
Despite the recent dip, experts caution that mortgage rates are expected to remain in the mid-to-upper 6% range through mid-2025. However, forecasts from Fannie Mae and the Mortgage Bankers Association suggest that rates could dip to 6.2% or even 5.5% by late 2025 or 2026, depending on economic conditions.
For those considering purchasing a home or refinancing, the current environment presents a window of opportunity. With less competition in the housing market compared to the peak periods of 2021-2022, buyers may find more favorable negotiating conditions. Additionally, the potential to refinance at lower rates in the future adds to the appeal of acting now.
Travel & Safelty
Australians Warned of Elevated Terrorism and Civil Unrest Risks in Maldives
Smartraveller advises heightened caution for travellers amid recent security concerns in the island nation

The Australian Government has issued an updated travel advisory for the Maldives, urging citizens to “exercise a high degree of caution” due to increased risks of civil unrest and terrorism. This advisory comes in light of recent incidents and ongoing security concerns in the region.
Smartraveller, the Department of Foreign Affairs and Trade’s travel advice platform, highlighted that public demonstrations can occur in the greater Malé area and other inhabited islands, which may escalate into violence without warning. Travellers are advised to avoid areas where protests are taking place and to follow the instructions of local authorities.
The advisory also notes that terrorism remains a threat in the Maldives. Since February 2020, there have been several terrorist incidents, including a stabbing attack on three foreigners in Hulhumalé, where an Australian was injured, an arson attack on a police speedboat in Laamu Gan, and the detonation of an improvised explosive device in Malé in May 2021, which injured a high-profile politician and bystanders.
While resort islands are generally considered peaceful and secure, the advisory emphasizes that terrorism can occur anywhere at any time, and tourists should remain vigilant.
In addition to the risks of civil unrest and terrorism, the advisory warns of drug-related crime and gang-related violence in urban areas, including greater Malé and other inhabited islands. Travellers are encouraged to take standard safety precautions, such as avoiding isolated areas, securing valuables, and staying informed about local developments.
Approximately 34,000 Australians visited the Maldives in 2023, drawn by its pristine beaches and luxury resorts. Despite the allure, the Australian Government advises travellers to stay informed and prepared for potential security challenges.
For the latest updates and detailed travel advice, Australians planning to visit the Maldives should consult the Smartraveller website.
Government & Policy
Hillcrest Jumping Castle Operator Found Not Guilty, Families Express Outrage
Tasmanian court acquits Taz-Zorb owner Rosemary Gamble over 2021 tragedy that claimed six children’s lives

In a verdict that has left grieving families devastated, a Tasmanian magistrate has found Rosemary Anne Gamble, owner of Taz-Zorb, not guilty of breaching workplace health and safety laws in connection with the 2021 Hillcrest Primary School jumping castle tragedy. The incident, which occurred during end-of-year celebrations on December 16, 2021, resulted in the deaths of six children and serious injuries to three others when a sudden gust of wind lifted the inflatable structure into the air.
Magistrate Robert Webster acknowledged that Gamble had “in some respects” failed to comply with her health and safety duties. However, he concluded that these failures were not a substantial cause of the risk that led to the children’s deaths. He attributed the tragedy to an “unforeseeable” and “unprecedented” weather event, specifically a dust devil, stating that even full compliance with safety protocols would not have prevented the outcome.
The court heard that Gamble had used only four pegs to anchor the jumping castle, despite manufacturer guidelines recommending eight. Her defense argued that the pegs provided by the Chinese manufacturer were insufficient and that the instruction manual was inadequate. Mechanical engineer Roderick McDonald testified that the anchoring system was inadequate for high wind conditions, suggesting that proper anchoring could have prevented the inflatable from becoming airborne.
The verdict has been met with anger and disbelief by the victims’ families. Georgie Burt, mother of 12-year-old victim Zane Mellor, expressed her anguish in court, stating, “This outcome does not reflect the weight of our loss, nor the reality we live with every single day.”
In a statement read by her lawyer, Gamble expressed deep remorse, saying, “I never meant for something like this to happen. And I am just so sorry that it did.” She added that she is a mother herself and can only imagine the pain the other parents are enduring.
While the criminal case has concluded, the legal battle is far from over. A coronial inquest is set to proceed, and a class action lawsuit has been launched against both Taz-Zorb and the state of Tasmania. These proceedings aim to seek further accountability and justice for the families affected by this tragic event.
Law & Order
Police Ramp Up Road Safety Enforcement for King’s Birthday Weekend
Authorities implement stricter measures to curb rising road fatalities during the holiday period

As Australians prepare for the King’s Birthday long weekend, police across the nation are intensifying road safety measures in response to a concerning increase in traffic-related fatalities. In Victoria, authorities have launched Operation Regal, a statewide initiative aimed at reducing road trauma during this high-risk period. The operation, running from Friday, June 6 to Monday, June 9, will see heightened police presence on major arterials and highways, particularly those leading to holiday destinations and alpine regions. Speeding, distracted driving, and impaired driving are key focus areas, with officers conducting random breath and drug tests to deter dangerous behaviors.
The urgency of these measures is underscored by alarming statistics: Victoria has recorded 136 road deaths in 2025, marking a 14% increase compared to the same period last year and reaching a 16-year high. May alone saw 37 fatalities, the worst for that month since 2004. Particularly concerning is the rise in deaths among vulnerable road users, including motorcyclists and pedestrians.
In New South Wales and the Australian Capital Territory, double demerit points are in effect from June 6 to June 9. Offences such as speeding, illegal mobile phone use, not wearing seatbelts, and helmet violations will incur double the usual demerit points, increasing the risk of license suspension for repeat offenders.
While states like South Australia, Tasmania, and the Northern Territory do not implement double demerits, they are conducting their own safety campaigns. Tasmania Police, for instance, are urging caution during the Dark Mofo festival, emphasizing the importance of pedestrian safety in low-light conditions.
Authorities nationwide are appealing to all road users to prioritize safety, adhere to traffic laws, and remain vigilant. With increased enforcement and public awareness campaigns, the goal is to prevent avoidable tragedies and ensure everyone reaches their destinations safely during the holiday weekend.
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