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5 Things to Know Today: Tariff Threats, Pricier Mortgages and Gas

  Sunday, July 19, 2026 From a new tariff threat out of Washington to rising costs at the pump and on your mortgage renewal, here's what actually moves your money this week — and what to do about it. 1. Trump threatens new tariffs on Canada over wildfire smoke President Trump said Friday he wants to add the cost of wildfire smoke drifting into U.S. cities to the tariffs Canada already pays, calling it "willful negligence" as hundreds of fires burn across Ontario and other provinces. It's legally unclear he can actually do this — the Supreme Court already struck down his use of emergency powers for tariffs, and the current 10% levy on non-CUSMA-compliant Canadian goods is set to expire at the end of July. Prime Minister Carney brushed off the criticism, and Ontario's premier called the threat "unacceptable." What it means for you: Nothing changes today — but this is a live threat right as the current tariff structure is up for renewal. If you import good...
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May Housing Market: Sales Decline Amid Record High Prices

 

In May, sales of previously owned homes declined for the third consecutive month as prices hit an all-time high. Year-over-year sales were down by 2.8%¹. The median home price in the US reached $419,300, contributing to the slowdown in home sales due to elevated interest rates. 

Lawrence Yun, chief economist at the National Association of Realtors (NAR), expressed surprise at the lack of a spring recovery. Only the Midwest saw an increase in home sales, while other regions remained flat or experienced monthly declines. Despite the market's softer conditions, homes still received multiple offers, and first-time buyers' share of purchases surpassed 30% for the second straight month³. It's a complex market situation, but I hope this summary sheds some light on the current trends! 




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