Flagstar Bank Opens New Banking Center in Indianapolis

Flagstar Bank today opened a new banking center at 5004 West 71st St., in Indianapolis. Hours for the new office are 7:30 a.m. to 7:30 p.m. Monday through Friday, and 8:30 a.m. to 4 p.m. Saturday.

Flagstar Bancorp, which has $15.4 billion in total assets, is the largest publicly held savings bank in the Midwest. Flagstar operates more than 130 banking centers in Michigan, Indiana and Georgia, home loan centers in 24 states and wholesale lending offices across the country. Flagstar is one of the nation's leading originators of residential mortgage loans.

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.