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Byline: -- Staff and Wire Services

Mortgage rates record small drop

WASHINGTON -- Mortgage rates declined slightly this week as investors grew more hopeful that the Federal Reserve's long string of rate hikes is drawing to a close.

Freddie Mac, the mortgage company, reported Thursday that rates on 30-year, fixed-rate mortgages dipped to a nationwide average of 6.72 percent, down from 6.80 percent last week, which had been the highest level for rates in more than four years.

Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, fell to 6.34 percent this week, down from 6.41 percent last week.

Rates on one-year adjustable-rate mortgages dropped to 5.78 percent, compared with 5.80 percent last week.

Rates on five-year adjustable-rate mortgages slipped to 6.35 percent from 6.36 percent last week.

Intel unveils new microprocessors

SANTA CLARA -- Intel Corp. launched its biggest product revamp in six years Thursday, unveiling 10 microprocessors that are expected to help the world's largest chip maker retake ground lost to smaller competitor Advanced Micro Devices Inc.

The Core 2 Duo microprocessors, which are being rolled out gradually over the next month, are Intel's first desktop and mobile chips to feature a blueprint designed to deliver significantly better performance while requiring less power and kicking off less heat.

Also Thursday, Intel slashed prices as much as 61 percent on some of its older chips -- a move likely to put more pressure on AMD and result in lower prices for consumers.

Intel's latest design delivers as much as 40 percent better performance while consuming as much as 40 percent fewer watts than the previous generation.

Advertisers reach deal with Google

TEXARKANA, Ark. -- An Arkansas judge on Thursday approved a $90 million settlement between Google Inc. and advertisers who said the Internet search engine company improperly billed them for ``clicks'' that didn't lead to genuine customers seeking their products.

Miller County Circuit Judge Joe Griffin called the settlement ``fair, reasonable and adequate'' and downplayed claims it hurt small advertisers.

By settling claims made in the class-action lawsuit, Google will give advertising credits that are the equivalent of a $3.80 refund on every $1,000 spent in its advertising network during the past four years.

No one will receive cash except the lawyers, who will split $30 million.

US Airways sees profit in quarter

TEMPE, Ariz. -- US Airways Group Inc., the airline formed from America West's acquisition of the bankrupt former US Airways, said Thursday that it swung to a profit in the second quarter and expects a profitable third quarter and full year.

The company posted net income of $305 million, or $3.25 per share, for the April-June period versus a loss of $3 million, or 20 cents per share, a year ago.

The recent results include $35 million of deal-related expenses, which were partially offset by a $7 million gain from interest income earned on prior year federal income tax refunds, and an $18 million gain related to fuel hedges.

Excluding items, the company posted per-share earnings of $3.35 in the quarter.