The DOW just hit 25,000 for the first time in its 132 year history. Ahead of tomorrow’s Jobs Report, the ADP Payroll Report shows Private Payrolls rise by 250,000, which is 24% higher than expectations. The 10 Year Note opened this morning at 2.48%, a level not seen since last March. The markets are rolling ahead with little hesitation.
Looking ahead to a few forecasts, the Atlanta Fed sees GDP at 3.2% to end the year. The Mortgage Bankers Association anticipates the 30 year mortgage rate to end the year at 4.6% and the National Association of Realtors expects 4.5% for the same criteria. If the economy maintains its current momentum, rates will blow by those estimates fairly handily.