Why the Housing Freeze Is Hitting Builders, Whirlpool, Home Depot and Lowe's at Once
As seen on the 24/7 Wall St. homepage on September 30, 2026.
Mad Money w/ Jim Cramer 9/30/26
- Cramer calls housing frozen: the 30-year national average at 7.34% versus 3% five years ago
- Lennar down 20% and KB Home down 17% year to date; Toll Brothers holds up on 25% cash buyers
- Whirlpool suspended its dividend; Home Depot and Lowe's both hit 52-week lows
- IPO and M&A pipelines stalled too, with Oura shelving a $2.2 billion offering
Mortgage rates at multi-decade affordability lows are draining builders, appliance makers and the home-improvement aisles at once, so holders are really running a single trade. Cramer says the group does not recover until the war ends, oil retreats and rate hikes come off the table.
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A 30-year mortgage rate of 7.34% has locked up housing, and every stock tied to buying and furnishing a home is moving together.
Lennar is down 20% year to date, while Toll Brothers holds up because many of its buyers pay cash.
Whirlpool suspended its dividend and Home Depot and Lowe's have hit 52-week lows, because fewer home sales means fewer renovation projects.
Oura shelved a $2.2 billion IPO, and Cramer sees no recovery until the war ends, oil retreats, and rate hikes come off the table.
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