Fannie Mae survey finds that consumer optimism on the rise

Individuals who are either considering buying a home for the first time or refinancing their current property, would benefit from an amortization schedule for loans. This will ensure that a monthly plan could be created that is uniquely catered to their financial situation.

As the economy slowly recovers, though, the most recent report from Fannie Mae showed that consumer confidence is growing. This could further increase the need for lenders to invest in loan management software to make sure that a mortgage is designed that will benefit both parties. From there, the economy can continue to strengthen.

"Friday's September jobs report, including the strong upward revisions for prior months, a sizable increase in earnings, and a sharp decline in the unemployment rate, should provide further impetus for improving consumer confidence in the housing market," Doug Duncan, senior vice president and chief economist of Fannie Mae, told Mortgage News Daily.

Specifically, the number of respondents who expect home prices to continue to rise over the next year is at 37 percent, an increase from one year ago where just 18 percent felt the same way. Only 11 percent of those surveyed believe that prices will experience further declines. This is the 11th straight month that home price expectations have been positive territory.

Student loan debt heavier on adults

With student debt at an all-time high, it could become increasingly difficult for households where the head of the home is younger than 35 to pay of their debt in a timely fashion.

According to a study by the Pew Research Center, nearly one in five households in the nation has outstanding student debt. In order for the economy to continue its recovery, lenders would be wise to use an amortization calculator to keep monthly payment plans at an acceptable rate for borrowers in an effort to curb further debt.