Jim Cramer Says Buy Toll Brothers as Mortgage Rates Drop Below 4%
<I>TheStreet's</I> Jim Cramer says interest rates have been moving lower, which is fantastic for homebuilders, especially high-end ones like Toll Brothers.
TheStreet's Jim Cramer says Toll Brothers' stock is going up because the homebuilder's orders were terrific, gross margins are great, buyers are paying more for homes, and several of the company's development projects are getting off the ground, including the development in Brooklyn. Cramer says if the 10-year treasury note keeps going down, Toll Brothers stock will keep going higher. Interest rates have been moving lower, which Cramer says is fantastic for homebuilders, especially high end ones like Toll Brothers. Cramer thinks the move higher in the sector will continue as mortgage rates dip below 4-percent.
