Sue Tierney: Financial advisor explains how Official Cash Rate hike is going to impact your mortgage

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Questions have been asked as to what the impact of the Official Cash Rate hike is going to be on mortgages. The Reserve Bank lifted it by 50 basis points to 4.75 percent on Wednesday. Meanwhile, the banks are supposedly discounting one and two-year fixed rates, but it's behind closed doors. Financial advisor Sue Tierney joined Kate Hawkesby to explain. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

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