New York, January 9, 2026, 19:01 EST — After-hours
Opendoor Technologies Inc (OPEN.O) shares rose 13.2% to $7.29 on Friday after hitting an intraday high of $7.91. The stock traded about 167 million shares.
The move followed President Donald Trump’s order for $200 billion of mortgage bond purchases; Federal Housing Finance Agency Director Bill Pulte said Fannie Mae and Freddie Mac would execute the buys. TD Cowen wrote the buying could narrow the gap between the 30-year mortgage rate and the 10-year Treasury yield, while Jefferies pegged the rate needed to bring buyers back in the mid- to high-5% range from about 6.2%; Rocket Companies and homebuilders Lennar and D.R. Horton also rose. “Every little bit will help push mortgage yields lower, but this might be self-defeating in terms of housing affordability,” said Brian Jacobsen, chief economic strategist at Annex Wealth Management. (Reuters)
Mortgage bonds — often called mortgage-backed securities — are built from pools of home loans. If buying pressure pushes yields down, mortgage rates can ease, lowering monthly payments. Opendoor’s model, which buys homes and resells them, tends to swing with rate bets because cheaper mortgages can loosen demand and trim the company’s own financing costs.
Investors will want details on timing and how the buying is run in practice. If Treasury yields rise or the mortgage-Treasury spread stays wide, Friday’s trade can unwind quickly.
But Opendoor is still a thin-margin business that carries homes and debt on its books, and it can get squeezed if home prices dip or resale times stretch. And if cheaper mortgages simply pull more demand into an already tight market, affordability may not improve much.
The next near-term test for rates is Tuesday, when the Labor Department is scheduled to release U.S. consumer price data for December at 8:30 a.m. ET. A firmer inflation print would likely push yields higher, putting housing-linked stocks back under pressure. (Bureau of Labor Statistics)
For Opendoor, the next company catalyst is earnings: the company has not confirmed a date, but market calendars put its fourth-quarter report on Feb. 26, after the close. Traders will be listening for updates on home-buying pace, resale margins and funding costs. (MarketBeat)
