New York, Feb 4, 2026, 11:32 EST — Regular session
- Opendoor shares slipped roughly 5% in late morning trades, underperforming several real estate peers
- Mortgage applications dropped 8.9% last week as purchase demand declined, even though rates eased slightly
- Opendoor is set to release its results on Feb. 19, swapping out the usual earnings call for this event
Opendoor Technologies Inc shares dropped roughly 5%, hitting $4.86 in late morning trading Wednesday, following new data indicating a further slowdown in U.S. mortgage demand.
This move is crucial since Opendoor’s business balances precariously between mortgage rates and housing turnover. With earnings set to drop later this month, traders are parsing every macro data release, hunting for signs that demand is either heating up or simply pausing.
The stock swung this week, dropping 6.4% on Monday before bouncing back the same amount on Tuesday, then slipping again Wednesday, per Investing data.
Mortgage applications dropped 8.9% last week, according to the Mortgage Bankers Association. Purchase applications, a key indicator of near-term homebuying activity, plunged 14%. Joel Kan, MBA’s vice president and deputy chief economist, pointed to Winter Storm Fern as a likely factor—much of the country was snowbound. The 30-year fixed mortgage rate edged down slightly to 6.21% from 6.24%. (MBA Newslink)
Shares of other housing-related firms slipped as well: Zillow dropped roughly 1.7%, Rocket Companies lost about 1.4%, and Offerpad slid nearly 4.9%.
A separate data feed from Fintel, published on Nasdaq.com late Tuesday, revealed that the average one-year price target for Opendoor was raised to $4.32 from $3.56, with individual targets spanning from $1.01 up to $8.40. (Nasdaq)
Opendoor operates as an “iBuyer,” purchasing homes straight from sellers, fixing them up, and then flipping them. This approach moves quickly when the market is stable, but interest rate shifts can wreak havoc on both volumes and margins.
Still, this approach isn’t without risk: if resale prices drop or interest rates spike again, hanging onto properties longer could tighten returns and push up borrowing costs right when it hurts most.
Opendoor has pinpointed its next major event. The company will release its fourth-quarter and full-year 2025 results after markets close on Feb. 19. Later that day at 5 p.m. ET, it plans to hold a video “Financial Open House.” Shareholders can submit questions starting Feb. 12 via Robinhood’s Say Technologies platform. (GlobeNewswire)
Investors are focused on the Feb. 19 event, looking for clues on whether home buying and resales are picking up. They’ll also be listening closely to management’s take on demand as mortgage rates inch down.
