Opendoor stock drops 6% to $6 as mortgage-rate bets cool; Fed meeting is next
Opendoor shares fell 6.4% Friday, closing at $6.01 after trading between $5.95 and $6.40. Investors watched mortgage-rate signals as Washington’s $200 billion mortgage-bond buying showed little effect on housing costs. The average 30-year mortgage rate stood at 6.09% Thursday. The Federal Reserve’s next policy meeting is set for Jan. 27-28.