The 10-year Treasury yield is back below 3% and TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer thinks the yield could dip to 2.75%.

"Toll Brothers (TOL) is a buy when you see rates go to 2.75," Cramer said, adding that until then, investors need to be careful.

Want exclusive investing insight from Jim Cramer? Get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!

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