President Donald Trump this week issued an attention-grabbing proposal cracking down on Wall Street in an effort to lower home prices and ease affordability woes.

Getting a rate below 6% carries psychological heft for buyers, says Rocket Mortgage Chief Business Officer Bill Banfield. “When mortgage rates start with a 5, you see increased demand for refinance and purchase,” Banfield said in an interview with Barron’s.

WASHINGTON, Jan 14 (Reuters) - The U.S. president wields enormous power and Donald Trump has greatly expanded his executive authority over the past year.