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Cramer warns that a 5% mortgage rate is the 'line in the sand' before the economy really gets hurt

Cramer warns that a 5% mortgage rate is the 'line in the sand' before the economy really gets hurt

"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."

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