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.

By Yoruk Bahceli and Dhara Ranasinghe LONDON (Reuters) -Traders saw the all-clear on Thursday from the European Central Bank to bet on even steeper interest rate cuts ahead, confident the central bank will ease policy further if trade tensions dent a fragile economy.

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.