Mortgage rates fall; 30-year loan at 5.1%

WASHINGTON • Average long-term U.S. mortgage rates fell this week for the second week in a row, though interest rates on the key 30-year home loan remain at decade-high levels.

Mortgage buyer Freddie Mac reported that the 30-year rate declined to 5.1%. By contrast, the average rate stood at 2.95% a year ago.

The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point and signaling more big rate hikes to come.