You are right, but there is a reason for that: Is called "FED", they have created money so the people could borrow money and refinance houses-education-gov or whatever at very low interest rates(zero IR, after inflation, virtual and free money).

My parents bought their house at 18% interest rate.

This is coming to an end this year, as the big bubble of all, the credit bubble, burst, people, governments(look at Europe today, USA tomorrow) just can't borrow any more, as their debt is too high.