IBC Bank Robber Sought

The search for a man who robbed a local IBC bank is underway.

It happened right before 3:30 Thursday afternoon in downtown San Antonio off East Travis. SAPD received a call from alarm company that they had a hold-up alarm go off at teller one and two at that bank.

Police say the robber was an African American man in his 20's, who they say passed a note to the teller demanding money. Witnesses say the man was wearing a black and gray long sleeve shirt with blue jeans.

Nobody was hurt, and the suspect got away with an undisclosed amount of money.

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.