Paying off your home loan ahead of schedule will likely be a smart financial move in any economic climate. You'll pay less in interest over the life of the loan if you can speed up the repayment timeline, while building equity in your property sooner. Clearing debts may also improve your credit score, which can be useful for future loan applications. Plus: who doesn't want to live mortgage-free as soon as possible? Paying off your mortgage faster in Australia's current cost of living crisis—with national home prices continuing to rise and inflation still driving increased interest rates despite showing some signs of slowing—is a huge bonus and would make a big difference to your bottom line.

https://www.forbes.com/advisor/au/home-loans/how-to-pay-off-your-mortgage-faster/

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