Why are the rates going up when Bernanke said we will be in recession for 5 years?

Great question...let's see if I can cover it...though rates did spike down the next day after Bernanke spoke...with the news of extended tax breaks and unemployment benefits...and the surprise of the 2% cut in payroll taxes caused a sell off of in the bond market...causing a rise in the ten year bond. Basically as investors money flows in or out of the bond market based on economic news caused the fluctuation in rates. Hope this helps clear it up a little....Dan PaladinUmax Mortgage