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.

U.S. President Donald Trump said on Thursday that he is ordering his representatives to buy $200 billion in mortgage bonds to bring down housing costs, though he provided no specifics.

Trump and the White House have been trying to show they are responding to voter concerns about affordability ahead of midterm elections in November.