Are Mass Effect and Dragon Age in the Same Universe?

"My name is Commander Shepard and Dragon Age is my favorite game on the Xbox" is the first thing that pops into my head as I read through this bizarre Q&A on Kotaku that features BioWare co-founders Ray Muzyka and Greg Zeschuk discussing the idea that Dragon Age and Mass Effect are "in the same universe." I'm not sure how (or if) the interviewer maintained his composure toward the end:
Me: I've seen armor from one BioWare game appear in the other. Do any of these games take place in the same universe? Are Dragon Age and Mass Effect in the same universe? Would that break a rule?

Ray Muzyka: I did wear my Dragon Age blood dragon armor for a good period of Mass Effect 2.

Greg Zeschuk: I don't. Is Mass Effect the past or the future?

Muzyka: Maybe [Mass Effect hero Commander] Shepard enjoys the look. He just enjoys the aesthetic. He has a TV in his cabin. So he gets to play great games and decorates his armor with...

Me: So you're telling me Dragon Age is a video game series within the Mass Effect universe. I like that idea. Shepard is playing Dragon Age.

Zeschuk: In the future, it's the greatest franchise ever.

Me: I like it. I think every game should be played in one of the others. And it should just telescope out.

Muzyka: Maybe we're in a game right now.

Zeschuk: Think of all the emotional engagement we could have.

Muzyka: And I'll tell you one thing, Stephen, if that's not emotionally engaging, I don't know what is.