User blog comment:Aleksandr the Great/Bioware HAS Written Themselves into a Corner/@comment-1891865-20121113164211/@comment-1891865-20121113170815

Besides the reasons you mentioned, Frostbite is also owned by EA, so it's more logical to use an in-house engine instead of paying royalties for another engine.

With that engine choice, it's likely they are targeting for the next-gen consoles (fingers crossed).