Stop Trading!: Mortgage Rates Going Higher
Mortgage rates are going higher, Thornburg Mortgage CEO Larry Goldstone confirmed during a Thursday interview on “Street Signs.” The statement’s a sharp contrast to Treasury Secretary Henry Paulson’s claims that the market will take care of itself, Cramer said.
This is “exactly the opposite of what they need in Washington,” he said.
Cramer credited Goldstone’s market predictions for being “dead right every time” the Thornburg CEO’s been on the show.
Switching to the cell-phone industry, Cramer declared that Spring Nextel was “literally blowing up.” Apple’s iPhone was taking “a huge amount of business” from the troubled telco, he said.
Both Fluor and Citrix Systems are aggressively hiring in the U.S. Erin Burnett said the jobs market is one thing helping to prop up the American economy.
Lastly, Cramer agreed with bond guru Bill Gross, who said that now is the best time in decades to buy municipal bonds.
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