<|begin_of_text|><|begin_of_text|><|begin_of_text|>"The mortgage rate is very high in this country," putting a drag on the economy as housing-related companies struggle, CNBC's Jim Cramer says.
The 30-year fixed-rate mortgage rate was at 4.85 percent on Thursday, according<wm> to the US Federal Reserve's H1H mortgage rate survey report.
Cramer emphasizes the shift away from fixed-rate products, and notes that those are becoming increasingly less popular with consumers.
"With a fixed rate of 4.85 percent for a 30-year mortgage, the cost savings of switching to the H1H report are becoming less dramatic," he adds." (Source: CNBC) CNBC, February 11, 2024) 

Cramer adds that lenders are offering more and cheaper rates</wm>, and individuals are becoming more conscious of the potential long-term impact of their mortgage payments. Consumers have