Here's how Trump's latest tariffs could impact mortgage rates and homebuilding costs in a market that's already fraught with affordability woes.

Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

Team coverage of the President Trump's new tariffs set to be announced on what his administration is calling "Liberation Day."

What we know is that President Trump’s avalanche of tariffs was to hit a peak on April 2; not end, mind you; not necessarily “the” peak, as more could be on the way; but a peak. No Trump policy more completely breaks with America’s past than his “beautiful” tariffs on just about everything coming into the United States from just about anywhere.

Despite the market turmoil caused by the “Liberation Day” tariff announcements, what matters going forward is where Wall Street lands concerning earnings and valuations. Read more here.

Mexico and Canada, as part of the USMCA free trade agreement, avoided the imposition of any additional tariffs during Trump’s announcement Wednesday, while the average tariff rate on U.S. imports is set to skyrocket to 29 percent from just two percent previously.