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

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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.”

The…

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