PNC Bank in Princeton Township robbed

Lone man escapes with between $500 and $800

The PNC Bank on Route 206 near Cherry Valley Road was robbed Tuesday morning after a man threatened a female teller with a gun or bomb, Princeton Township Police reported.

Police believe the suspect, who is described as a black man between the ages of 25 and 30, took between $500 and $800 from the bank. Police described the suspect as having a dark complexion, husky build and wearing a white jacket, blue jeans and a dark ski cap.

The man entered the premises around 11:42 a.m. and reportedly approached the teller with a note asking for money. Though he did not display a weapon, he led the teller to believe he was armed, police said.

Police said the robber fled the bank after receiving money, but they do not know if he left on foot or in a car.

Police arrived on the scene shortly thereafter, and began processing the crime. An agent from the FBI's Trenton office also assisted with the investigation. So far, no suspects have been named, police said. The investigation is continuing.

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.