The U.S. economy officially contracted in the first quarter of 2025, fueling fresh recession fears and putting pressure on the Federal Reserve amid a shaky start to President Trump’s second term. In this episode, we break down why GDP fell, how Trump’s new tariffs distorted trade data, and what it all means for mortgage rates, homebuyers, and real estate investors.

Plus, we dive into the latest mortgage application data, which shows a continued slowdown in demand despite stable interest rates. If you want to know what’s next for housing—and whether buyers or sellers have the upper hand—don’t miss this analysis.

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