WASHINGTON — Rates on 30-year mortgages fell for a second consecutive week, but analysts still believe the future direction will be up as the Federal Reserve keeps tightening credit to keep inflation under control.

Mortgage giant Freddie Mac reported in its weekly survey yesterday that rates on 30-year, fixed-rate mortgages averaged 6.26 percent this week, down from 6.28 percent last week.

Rates for 30-year mortgages had hit 6.37 percent three weeks ago, the highest level in more than two years. Analysts attributed the two weeks of declines to market uncertainty over the economy.

"Mortgage rates are in a holding pattern at the moment as financial markets try to discern where inflation and growth in the economy are headed," said Frank Nothaft, Freddie Mac's chief economist.

"Until the market decides these issues, mortgage rates should stay within a relatively narrow band," he said.

Most analysts believe that the fall in rates will be only temporary as the Fed keeps pushing short-term rates higher to slow the economy enough so that a surge in energy prices this year does not spill over into more widespread inflation problems.

Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 5.81 percent this week, unchanged from last week.

One-year adjustable rate mortgages edged up slightly to 5.16 percent after having fallen to 5.14 percent last week.

Rates on five-year hybrid adjustable rate mortgages averaged 5.76 percent this week, up slightly from 5.75 percent last week.

The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year and 15-year mortgages each carried a nationwide average fee of 0.5 point; one-year ARMs had a 0.8 point fee and five-year hybrid ARMs carried a fee of 0.6 point.

A year ago, 30-year mortgages averaged 5.81 percent, 15-year mortgages were at 5.23 percent and one-year ARMs averaged 4.19 percent..