Gunman hits Bank of the West, leaves Modesto branch on foot

An armed robber struck the Bank of the West branch at 3801 Pelandale Road on Wednesday morning, Modesto police said.

According to police, the robber strolled into the bank branch about 10:20 a.m., and walked to the counter where a teller was helping a customer.

He pushed the customer out of the way, showed the teller a black, semi-automatic handgun, and demanded money, police said.

The teller handed over cash, and the robber left. He was last seen on foot, going away from the bank and through the parking lot of the nearby Lowe's home improvement store, police reported.

One of the 12 customers in the bank, who has high blood pressure, had difficulty breathing in the wake of the robbery, and an ambulance was called, according to police.

Police are seeking the robber, described as a black man, 25 to 30 years old, about 6 feet 2inches tall, 220 pounds, wearing a black puffy jacket, black pants and a green fishing-style hat.

Police ask that anyone who recognizes the suspect or who has information about the incident, contact Detective Al Brocchini at 572-9572.

Anyone can file a tip anonymously to CrimeStoppers by calling 521-4636 or by logging onto the Web site, www.modestopolice.com/CrimeStoppers.

Callers who report tips to CrimeStoppers, even anonymously, may be eligible for a reward of up to $1,000.

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.