"But I don't think they are ever going to significantly raise rates again. Why do they seem to fall for it every single time? Haven't they figured out the scam by now."

Everyone is bleeding by 0.25 of a percent increse at a time, that way they won't run out of blood. But these micro rate increases will make some collect a lot of blood. Or as a wise man once said "When there's blood in the streets it's a good time to buy".