They are overplaying their hand. Jerks.

There are numerous reasons that the markets fluctuate and one of the most constant factors in the housing market is the interest rate. (click here)

Monthly Average Commitment Rate And Points On 30-Year Fixed-Rate Mortgages Since 1971 (click title to entry - thank you)

Mortgage February 2009 - 5.05

Mortgage February 2008 - 5.92

Mortgage February 2000 - 8.33

Mortgage February 1990 - 10.20

TOPWRAP 7-Fed to buy Treasuries; UK unemployment at 2 mln (click here)
Wed Mar 18, 2009 3:31pm EDT

...The Fed also said it would expand its purchases of mortgage related debt in a bid to lower U.S. home mortgage rates and support the ailing U.S. housing market.

The Fed had already exhausted its main monetary policy lever by lowering benchmark interest rates to between zero and 0.25 percent last December, and many had expected it would soon follow Japan and Britain in pumping money directly into the system.
"This is a pretty dramatic move," said James Caron, head of global rates research at Morgan Stanley in New York. "We think they are buying maturities over seven years. They are trying to bring down all consumer rates."...