New York, Jan 10, 2026, 07:16 EST — Market closed
Opendoor Technologies (OPEN.O) shares jumped 13.2% on Friday, finishing at $7.29 after U.S. President Donald Trump ordered the start of $200 billion in mortgage-bond purchases, a move that sparked a broad bid in mortgage and housing-related stocks. Rocket Companies gained 9.6% and LoanDepot climbed 19.3%, while the Philadelphia Housing index rose 5.7% to its highest since October. (Reuters)
The rally matters because Opendoor’s business rises and falls with U.S. housing turnover, and investors are trading it as a lever on mortgage rates. Treasury Secretary Scott Bessent told Reuters the goal of the mortgage-backed securities (MBS) buying — bonds backed by home loans — is to “roughly match the Fed” as the central bank lets about $15 billion a month roll off its MBS holdings; the Federal Housing Finance Agency began with a $3 billion initial purchase, he said. (Reuters)
Still, the policy push is also reopening a different argument: what it means for Fannie Mae and Freddie Mac, the mortgage-finance giants the government took over in 2008. TD Cowen analyst Jaret Seiberg wrote that Trump’s comments did not sound like he was in a rush to take the firms public, and JonesTrading’s Mike O’Rourke warned, “If the GSEs can serve as a funding arm for Presidential policy, we shouldn’t ever expect them to be re-privatized again.” (Reuters)
For Opendoor traders, the question into Monday is whether Friday’s burst of volume fades into the weekend. The stock has swung sharply this week — sliding 11.7% on Jan. 7 before reversing higher — and Friday’s move left it back above the $7 mark after spending much of 2025 below it. (Investing)
The next company-specific checkpoint is earnings. Opendoor has not confirmed a date, but MarketBeat’s calendar pegs the next report for Feb. 26; investors typically focus on how many homes Opendoor is holding, how fast it is turning that inventory, and whether gross margins are holding up as rates move. (MarketBeat)
Technically, the stock is still well below its 52-week high of $10.87, a level some chart-watchers treat as the next major ceiling if the rate-driven trade stays on. (MacroTrends)
But the downside case is straightforward. Mortgage spreads can widen again, Washington’s buying plan could prove smaller in market impact than headlines suggest, and any renewed jump in yields would hit affordability just as the spring selling season approaches — a tough mix for a company that carries homes on its balance sheet.
What investors watch next is inflation data. The U.S. December CPI report is due on Tuesday, Jan. 13, and the next Federal Reserve policy meeting is Jan. 27-28 — both key waypoints for rates, and by extension for housing-linked names like Opendoor. (Bureau of Labor Statistics)
