Locus of control and home mortgage loan behaviour.
The present study investigated the impact of locus of control on home mortgage loan behaviours. The results showed that participants with stronger external control were more likely to purchase a lower priced home, have a lower ratio of mortgage loan amount to the total home value, and have a shorter term of mortgage loan. Moreover, among participants who have owned a home, those not using mortgage loans showed more external control than those using mortgage loans; among participants who have not owned a home but want to buy a home, those not planning to use mortgage loans showed more external control than those planning to use mortgage loans.
Department of Psychology,, Peking University, Beijing, China. leiwang@pku.edu.cn
Mingji
M
Wang
Hong
H
Chen
Lei
L
Wang
D000066:Accounting; D000293:Adolescent; D000328:Adult; D002605:Character; D002681:China; D003431:Cross-Cultural Comparison; D005260:Female; D005376:Financial Management; D006798:Housing / Q000191:economics*; D006801:Humans; D007206:Individuality; D007389:Internal-External Control; D008297:Male; D008875:Middle Aged; D010555:Personality Inventory / Q000706:statistics & numerical data; D011594:Psychometrics; D055815:Young Adult