Mortgage rates edge down

Freddie Mac issues rate survey

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Rates on 30-year fixed-rate mortgages edged down to 5.14 percent with an average of 0.7 point this week, compared to 5.20 percent a week ago and 6.26 percent a year ago, Freddie Mac said in releasing results of its Primary Mortgage Market Survey.

The 15-year fixed-rate mortgage averaged 4.63 percent for the week ending July 16, with an average 0.7 point, down from 4.69 percent last week and 5.78 percent a year ago.