Man accused of robbing Key Bank

A suspected bank robber didn't get too far with the money he's accused of stealing.

Investigators said a man robbed the Key Bank at the corner of Madison Avenue and South Pearl Street on Wednesday.

Police said the man showed the teller a gun, then ran off with some cash. A witness saw him near the Pepsi Arena box office trying to change out of his clothes. Police surrounded the Pepsi but didn't catch up with the suspect until they found him at the Empire State Plaza, still carrying a gun.

Albany Police Det. James Miller said, "He was caught by the state police up in the concourse. How he got up there, they're still trying to find out. Once they make a positive identification, then they'll go from there, try to find the money, see if he discarded it anywhere, and look for the clothes."

Police have not released the suspect's name yet.

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.