With the reintroduction of U.S. tariffs under President Donald Trump in 2025, Ontario's housing market faces significant uncertainty. As manufacturing job losses mount and inflation rises due to higher import costs, consumer confidence is expected to decline. While the Bank of Canada is cutting interest rates to counteract economic slowdown, mortgage lenders may hesitate to pass on these savings due to increased financial risk. For homebuyers in Ontario, this could mean unpredictable mortgage rates, reduced housing demand, and a potential slowdown in new construction—especially as material costs soar.