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!

More from Video

How Automated Investing Is Changing the Investing Landscape

How Automated Investing Is Changing the Investing Landscape

What You Need to Know About Your 401k in a Volatile Market

What You Need to Know About Your 401k in a Volatile Market

Market Movers: Tech Earnings

Market Movers: Tech Earnings

The 2020 Mustang Shelby GT500 Is the Most Powerful Street-Legal Mustang Ever

The 2020 Mustang Shelby GT500 Is the Most Powerful Street-Legal Mustang Ever

In Case you Missed it: Bank Earnings Powered Stocks, Netflix's Big Report Card

In Case you Missed it: Bank Earnings Powered Stocks, Netflix's Big Report Card