Man Caught After Robbing Bank in Holiday Disguise

Wednesday morning a man wearing a Santa beard robbed the Charter One Bank inside the Kroger at Sheldon and Ann Arbor road. The suspect and his accomplice led police on a wild chase before they were apprehended.

When the suspect lost control of his car, the passenger surrendered immediately, but the suspect ran between two houses on outer drive and shots were fired.

Lieutenant Gregory Winn of the Livonia Police Department said, "The suspect, after being told to drop the weapon or whatever he had in this hand, continued to advance on the officer. He was told repeatedly to drop his weapon and continued to advance upon the officer until they finally tackled him to the ground."

Several of the bullets struck a nearby house. Two women were inside, but were not injured.

The suspect in the robbery was the man shot by police. It would is described as superficial.

The arraignment in this case could happen as early as Thursday.

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.