Rates faced upward pressure Friday following the release of stronger than expected housing data. April Housing Starts rose 13% to an annual rate of 1,072,000 units, well above the consensus forecast of 980,000. However, nearly all of the increase came from multi-family units, which jumped 40%. April Building Permits, a leading indicator, increased 8% to the highest level since June 2008. Separately, Consumer Sentiment fell to 81.8, below expectations. Stocks moved lower. No other data will be released today.