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Housing Loans: What about Personality Traits?

Author

Listed:
  • Elisa Gambetti

    (Department of Psychology, University of Bologna, Bologna, Italy,)

  • Fiorella Giusberti

    (Department of Psychology, University of Bologna, Bologna, Italy)

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 fixedrate 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.

Suggested Citation

  • Elisa Gambetti & Fiorella Giusberti, 2017. "Housing Loans: What about Personality Traits?," International Journal of Economics and Financial Issues, Econjournals, vol. 7(2), pages 32-39.
    • Handle: RePEc:eco:journ1:2017-02-05
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    References listed on IDEAS

    as
    1. Matthew Chambers & Carlos Garriga & Don E. Schlagenhauf, 2009. "Accounting For Changes In The Homeownership Rate," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 50(3), pages 677-726, August.
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    Cited by:

    1. Elisa Gambetti & Micaela Maria Zucchelli & Raffaella Nori & Fiorella Giusberti, 2022. "Default rules in investment decision-making: trait anxiety and decision-making styles," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-26, December.

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    More about this item

    Keywords

    Personality; Mortgage; Risk Perception; Preferences;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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