Mortgage rates fell overnight after Trump announced sweeping tariffs. But will mortgage rates keep heading down?

These are today's mortgage and refinance rates. Mortgage rates are down in response to investor fears that new tariffs could cause a recession.

Trump's plan, introduced this week, proposes a 10 percent baseline global tariff on imported goods, with higher rates for specific countries.

US President Donald Trump has imposed a 10% tariff on goods from most countries being imported into the US, with even higher rates for what he calls the "worst offenders". But how exactly were these tariffs - essentially taxes on imports - worked out?

The White House’s new tariffs were pegged to amounts it said other countries impose on the U.S. In many cases, those amounts appear to match a basic formula.

How does the Trum administration’s new “discounted reciprocal tariff” for some key trading partners compare with the tariff rates that they charge? It’s here in one chart.

Trump’s tariffs are an economic emergency. If implemented, the US’s average tariff rate would be higher than under Smoot-Hawley. They would constitute the largest tax increase since the 1968 levies to fund the Vietnam war.

Economists say President Donald Trump's expansive, worldwide tariff regime could plunge the U.S. into a recession, What should you be doing now?

Stock markets around the world are reacting negatively to President Donald Trump's new tariffs, creating "deep unease and worry" about what the actions will do to global economies. NBC’s Christine Romans joins TODAY to break down how this will impact Wall Street and main street.