Business bulletin board

Think there are enough bank branches around the county to satisfy customer demand? Think again.

At least eight new bank branches are open, under construction or renovation or in planning this summer.

Wachovia, the busiest of the bunch, is adding two new branches. Offices will open at 171 Jennifer Road near Westfield Annapolis and at Arundel Village in Hanover later this year.

On the other side of the Annapolis mall, Bank of America is in the midst of a complete makeover of its branch on Generals Highway. Work there, which will include a higher degree of automated services, will be completed this fall.

Also in the Annapolis area, South Carolina-based First Citizens Bank will open its first Maryland location at 1967 West St. by the end of the year.

Down in Edgewater, Chevy Chase Bank is opening a new branch at 2580 Solomons Island Road this summer. And BB&T has started work on its new branch at 52 W. Central Ave., part of the new Safeway shopping center under construction near Pike Ridge Road.

Baltimore-based 1st Mariner, meanwhile, will open its fifth county location on Route 175 in Odenton this fall.

And another Baltimore outfit, Provident Bank, opened its 13th county location in the rebuilt Maryland City Shoppers Food Warehouse last month.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.