Rates faced upward pressure Friday as a rally in stocks hurt mortgage-backed securities. In economic news, the Chicago Purchasing Managers Index, a survey of manufacturing activity in the Midwest region, rose to 59.8, well above forecast. Fourth quarter Gross Domestic Product (GDP) was revised lower to 2.4%, slightly below expectations. Consumer Sentiment came in at 81.6, close to forecast. January Pending Home Sales increased by 0.1%, much less than expected, and was 9.0% lower than January 2013. Unusually cold weather was cited as a contributing factor, as well as limited inventory. No other key economic data will be released today.