Monday, Nov 20, 2006

Lenders using supermarket psychology says academic study

Sunday Herald: Mortgage borrowers fall for 'supermarket-style' rates

Everyone knows about the old sales trick, where a supermarket prices an item at 4.99 instead of 5 so that it seems cheaper than it really is. We all like to think we are too smart to fall for that particular ruse. Yet hundreds of thousands of mortgage borrowers are taking out home loans from lenders who use exactly the same ploy to persuade them that their deals are better than their rivals.

Posted by jellycaster @ 09:08 AM (453 views)
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