Mortgage rates are bouncing around, though not because of inflation data or job numbers. Financial markets (stocks and bonds) are being shaken by President Donald Trump's on-again, off-again tariffs.

Springtime home shoppers may be feeling the impact of an intensifying trade war. The average rate on a standard, 30-year fixed mortgage was 6.83% in the week ending April 17, up from 6.62% a week ago, mortgage financing provider Freddie Mac said Thursday. That’s the largest one-week jump in mortgage rates in nearly a year.

The central bank cut by a quarter of a percentage point to cushion Europe’s flagging economy from Trump’s trade war.