How coffee can save you thousands on a home loan

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Cutting out three bought coffees a week and putting the money on your mortgage instead could shave two years off a 30-year home loan and save $28,000 in interest, a research company says.

Canstar, which rates and researches financial products, says while home loan rates are rising there are still ways to save thousands of dollars on your mortgage.

Research by the company shows the average one-year fixed term rate is now 0.22 per cent higher than this time last year while the two-year fixed rate is on average 0.32 per cent higher.

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