Provident Bank Promotes New Vice-President

Morris & Ritchie Associates, an architectural and engineering firm in Laurel, has named John O. Smithof Severna Park a senior project manager. Mr. Smith will work on investigations, planning, hydraulic analysis and design, municipal permitting approval and construction management for water and wastewater management projects.

He will also provide expert witness testimony for environmental cases and do consulting work for clients related to solid-hazardous waste management.

Eric C. Silk, associate vice president of the Annapolis branch of Legg Mason Wood Walker, has been named a certified financial planner by the Certified Financial Planner Board of Standards.

Joan U. Fulton of Severna Park has been promoted to vice president of the Provident Bank Commercial Banking Division. She previously was senior special accounts officer and senior credit analyst at the bank.

Alan R. Ingraham has been sworn in as president of the Maryland Association of Realtors in Annapolis. Mr. Ingraham is a senior vice president with First Horizon Home Loans in Timonium.

Frances Schmidthas been named executive director of the Northern Anne Arundel County Chamber of Commerce. A standing of the chamber's legislative committee, she will also manage key projects such as publication of the monthly membership newsletter, education programs, membership drives and multi-chamber networking events.

Ms. Schmidt was most recently the office manager of Nor-Lin Auto Parts in North Linthicum.

Maryland Volunteer Lawyers Service has namedMichael A. Canet its volunteer of the year. The Glen Burnie attorney and accountant provided free legal assistance to 54 Marylanders last year.

Send information about your career, business or event to Business Newsmakers, The Capital, P.O. Box 911, Annapolis, MD 21404, e-mail to capstaff@capitalgazette.com or fax to 410-280-5953.

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.