Financial pain ahead for mortgage holders as RBA lifts interest rates again | 7.30

The Reserve Bank has raised the cash rate for a fifth consecutive month. In the economic data, there are small signs the rate hikes are starting to take effect but it’s being acutely felt by mortgagees especially those riding out variable rates. It’s fine now for the record number of Australians with fixed rate loans but by the middle of next year, they’ll be in for a nasty surprise. Ashlynne McGhee reports. Subscribe: 🤍ab.co/1svxLVE ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: 🤍ab.co/2kxYCZY Watch more ABC News content ad-free on iview: 🤍ab.co/2OB7Mk1 Go deeper on our ABC News In-depth channel: 🤍ab.co/2lNeBn2 Like ABC News on Facebook: 🤍facebook.com/abcnews.au Follow ABC News on Instagram: 🤍instagram.com/abcnews_au Follow ABC News on Twitter: 🤍twitter.com/abcnews Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia