Housing Loans: What About Personality Traits?
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Abstract
To investigate the role of personality traits (16PF model) on psychological attitudes about mortgage behaviour, 263 participants were asked their preferences and perceptions about housing loans. Results showed that: extraversion positively predicted the preference for housing loans with adjustable rates, but also the tendency to change this preference; anxiety negatively predicted the preference for having housing loans, preferring fixed-rate mortgages, and the perception of high risks and low levels of predictability; tough-mindedness was positively associated with a preference for fixed-rate mortgage (maintaining this preference over time), and with the perception over adjustable-rate mortgages of low risks and low predictability; independence negatively predicted the preference for adjustable-rate mortgages. These findings fit with a growing body of evidence suggesting that individual differences influence perceptions and preferences about mortgages.Keywords: Personality; Mortgage; Risk Perception; Preferences.JEL Classifications: E44, G23Downloads
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Published
2017-04-03
How to Cite
Gambetti, E., & Giusberti, F. (2017). Housing Loans: What About Personality Traits?. International Journal of Economics and Financial Issues, 7(2), 32–39. Retrieved from https://www.econjournals.com/index.php/ijefi/article/view/3848
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