Data point to uncertainty in US housing (FT)

The Financial Times reports today from Washington that bond markets are welcoming good news about services, jobs and exports.

The article then shifts to a raft of indices from the housing market: mortgages applications are up; the investor share of the [new] housing market remains high [?] at 10%; warm weather (at least in the East) has offset seasonally slower traffic; home starts are still contributing to the national level of 6.3 months of inventory (though permits have slowed down, a longer-term indication compared to starts); and rising delinquency on subprime loans.

Finally, if bond markets perceive the Fed to be less likely to make a rate cut, bond yields and mortgage rates could bump up, according to the article.