Jim Cramer Blog

The Federal Reserve raised rates for the 16th consecutive time to 5%. The language in the statement contained the standard terms, but the only difference was the use of the word "yet." Many analysts figured the use of this word gave a little more indication that the Bernake may be done with increasing rates. Obviously, the interest sensitive stocks such as the home builders. But, if this language does indicate a slowdown of increase, the pull-back of these homebuilding stocks may indicate a good time to buy some more shares of these stocks. If mortgage rates remain reasonably low, the real estate bubble that everyone is talking about will be pushed further and further away.