Yep, they are.
HOWEVER.... this might very well cut mortgage rates, because the Fed has also been buying agency paper. By artificially compressing the long end of the curve and agency rates, this might well be the lowest mortgage rates we’ll see for QUITE some time to come in the future.
So if folks are looking to re-fi or buy a house... within the next several months there will be perhaps the lowest rates we’re going to see for a long time to come.
And at some point in the future, rates are going to go up, and there won’t be much the Fed will be able to do about it.
It is going to lower interest rates so people can resume buying homes they can’t afford? Thats how we got into this mess in the first place. This will eventually drive down the value of the US$. Insane in my opinion.