Thats to far behind the curve, thats how bubbles form. I pray the morons who set rates have learned something.
Do away with the Federal Reserve's rate setting and put a friggen computer in it's place. Has anyone taken a good look at mortgage rates in the last few days? The Fed's QE policy is a load of crap. Rates are up - and up significantly. All those refi's? There goes that. And the seemingly rush to buy some homes the last few months will fade away into nothing.