How about that, remember how taking Fannie and Freddy were going to bring rates down? well now rates are going higher and higher. http://www.bankrate.com/brm/graphs/graph_trend.asp?product=1&prodtype=M Banks get free money while Americans pay more for a loan now than in the last 10 years.
Gotta love the system. Don't worry next the govt will prob step in and do a subsidy of 1.5 % off of all new mortgages in order to get people to buy more houses. Maybe they will even do a 0% program like the automakers did.
Of couse, that's why this bullshit rally will not last. Right now it's just a circle-jerk orgy with no chics.