By Dan Weil The average rate for 30-year fixed mortgages hit 5.11% in the week ended April 21. Recent developments haven’t been good on the mortgage front. First came the news that mortgage applications fell 5% in the week ended April 15 from a week earlier, according to the Mortgage Bankers Association. And now comes the news that the average rate for 30-year fixed mortgages rose to 5.11% in the week ended April 21, the highest level in 11 years. The latest rate was up from 5% a week earlier and 2.97% a year ago. “Mortgage rates increased for the seventh consecutive week, as Treasury yields c…