In brief: Mortgage rates ease after recent run-up

Washington – Rates for 30-year home loans fell back this week after soaring to the highest level in seven months a week earlier.

The average rate for a 30-year fixed mortgage was 5.38 percent this week, down from 5.59 percent a week earlier, mortgage company Freddie Mac said.

Rates had risen for three consecutive weeks after yields on long-term government debt, which are closely tied to mortgages rates, had been climbing as investors worried that the huge surplus of government debt hitting the market could trigger inflation.

But data released Wednesday suggested that inflation remains largely in check, and the yield on the 10-year Treasury note has fallen back from an 8-month high of 4.01 percent reached last week.

The average rate on a 15-year fixed-rate mortgage fell to 4.89 percent, down from 5.06 percent last week, according to Freddie Mac.

Microsoft readies PC security software

Seattle – Microsoft Corp. said Thursday it plans to release a beta test of its free computer security program next week and is on track to launch a finished product in the fall.

The program, Microsoft Security Essentials, is designed to find and kill malicious software that can steal passwords and other personal information or turn PCs into spam distribution hubs.

Once the PC security software is installed, Microsoft said it will download updated lists of identified malware daily, but will keep a low profile unless it detects dangerous software.

Winnebago sales decline 64 percent

Forest City, Iowa – Winnebago Industries Inc., the nation’s biggest motor-home manufacturer by market share, posted a loss of $8.6 million in its fiscal third quarter, as revenue continued to crumble in the face of falling RV sales.

The Forest City, Iowa-based company reported a per-share loss of 29 cents per share for the quarter ended May 30. It earned $3 million, or 10 cents per share, last year.

Revenue plunged 64 percent to $50.8 million, as motor-home shipments fell 62 percent during the quarter.

Still, Winnebago said it held up better than the competition during the quarter. During the first two months of its fiscal third quarter, industrywide motor-home sales fell a steeper 77 percent, the company said.

Shares of Winnebago rallied Thursday despite the weaker results. Shares rose 67 cents, or 10.3 percent, to close at $7.15 in Thursday trading.

The stock has more than doubled from a 52-week low of $3.14 in March, but is off from a high of $15.20 last year.