Why haven’t interest rates dropped?

I don’t understand that stuff at all, but I know it’s one of the many reasons the market got so wild. I would they think would’ve gone back up by now? But like I said, I have no idea about this stuff. I would think banks and lenders are making so much money and people are so desperate they would take advantage and raise interest rates?

Edit*** sorry. I mean risen lol.

submitted by /u/candyapplesugar
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source https://www.reddit.com/r/RealEstate/comments/n28krx/why_havent_interest_rates_dropped/