Fed adjusts rate policy slightly; mortgage rates stay low - 2004-01-28
The Federal Reserve decided this afternoon to leave interest rates as is. That was expected. So, the Federal Funds rate stays at 1%, and the discount rate is 2%.

But bond yields went up and stocks slumped as the Fed changed how it might move on changing rates.

At least for now, the Fed's decision is good news for anyone borrowing money. The rate on a 30-year mortgage is about 5.3% nationally, reports Bankrate.com.
Read the full story at CNBC

Fannie Mae to help minorities purchase homes - 2004-01-28
The nation's biggest mortgage lender pledged Tuesday to assist 55 percent of all minorities become homeowners over the next ten years, up from the current level of 49 percent.

Officials at Fannie Mae unveiled a plan to help 6 million first-time home buyers -- including 1.8 million minority families -- buy homes by 2014. To be successful, the company will have to provide financing for more than 250,000 additional first-time buyers each year.
Read the full story at Contra Costa Times