What happens to mortgage rates if the Canada-U.S. trade war ends?

Open this photo in gallery: The market currently expects the Bank of Canada to cut interest rates by another 25 basis points in 2025, down from a total trim of 75 basis points a few months ago.Isabella Falsetti/The Globe and Mail For months, the chaotic trade war launched by the U.S. against Canada and much of the world has been the single largest driver of where mortgage rates will go. It led some economists to wonder just how much the Bank of Canada would need to cut rates if the trade war caused a severe recession, while others worried about…