5% mortgage rate ‘line in the sand’ before economy gets hurt

Rising mortgage rates may really start to hurt the economy, consumer spending and company earnings soon, CNBC’s Jim Cramer warned on Monday.

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“We’re going to see more and more bad earnings because [a] 5 percent mortgage is the end, that is the line in the sand,” Cramer said Monday on “Squawk on the Street.” “The mortgage rate is very high in this country.”

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