Jim Cramer: You Can't Own Homebuilder Stocks During Coronavirus
Before we get stock-specific with Jim Cramer, let's talk about the home-buying space and economic data that came out.
U.S. mortgage rates edge modestly higher last week, but new applications fell and activity slowed amid a record surge in jobless claims and the ongoing economic shutdown triggered by the coronavirus pandemic.
The Mortgage Bankers Association said 30-year fixed rates for conforming loan balances of less than $510,400 rose 2 basis points in the week ending April 3 to 3.49%, just above the record low recorded for the prior week and in early 2012.
The homebuilder confidence index was also slammed, taking the biggest monthly dive ever. The index has been around for 35 years.
So, what does Jim Cramer have to say about the specific stocks?
Watch the full video above for more.
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