Suspect In Custody After Robbery At Compass Bank

BIRMINGHAM, Ala. -- A Compass Bank near UAB was robbed Wednesday morning.

The Birmingham Police Department reported that a robbery occurred at approximately 10:20 a.m. at a Compass Bank, located at 701 20th Street South.

Witnesses stated that an unknown male suspect entered the business, went to a teller and demanded money. Witnesses also stated that the suspect left on foot, taking with him an undetermined amount of money.

There were no injuries.

Moments later, robbery detectives and officers from the South Precinct responded to the Hospitality Inn, located at 2125 7th Avenue South, where a male suspect was taken into custody without incident. Money was also recovered.

The 39-year-old male suspect has not been formally charged.

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.