Mortgage Giant Fannie Mae posts $6.9B derivative loss - 2004-03-16
U.S. mortgage guarantor Fannie Mae revealed its losses on one type of derivative used to hedge interest-rate risks in 2003 were $6.9 billion.

The disclosure of the nearly $7 billion loss, which underscores the risks of the government-sponsored mortgage lender takes using derivatives, came after pressure from analysts and politicians for clarity about results from derivatives activity.
Read the full story at Washington Times

Ways to get over the down-payment hurdle - 2004-03-16
Today is a difficult time for renters who want to purchase homes but who haven't saved much for down payments. Mortgage rates are on the rise, houses aren't getting cheaper and it seems like time is running out.

"It would take me at least another year or two to save another $10,000 to $15,000, and, frankly, I want to purchase a house before the costs are out of reach," e-mails a reader from Long Island.
Read the full story at Bankrate.com