On Wednesday, U.S. President Donald J. Trump introduced his much-anticipated tariff regime. All imports would be subject to a 10% tariff, while Trump would impose higher rates on nations that the administration views as “bad actors” on trade.

After several years of consistent mortgage rate increases and soaring home prices, the prognosis for the 2025 housing market seemed promising at the start of the the year. However, recent economic and political instability has cratered consumer confidence and homebuyer optimism.