NEW YORK, March 11, 2026, 11:43 EDT
Opendoor Technologies moved up roughly 1.3% to $5.08 in late-morning trading Wednesday, helped by a bump in weekly acquisition contracts—up 12% from the previous week, according to the company’s own public tracker. That tracker, Opendoor notes, is unaudited and can reflect contracts that might later be canceled. Shares beat out other names tied to the housing market, as Rocket Companies and Zillow were both down.
The update is notable—Opendoor’s main business remains buying homes off sellers and flipping them online, which keeps the company sharply exposed to shifts in mortgage rates, buyer appetite, and inventory turnover. New housing figures out this day showed more resilience: U.S. existing-home sales ticked up 1.7% in February, while mortgage applications climbed 3.2% over the past week.
That’s kept investors scrutinizing Opendoor’s mortgage rollout from last week. Chief Executive Kaz Nejatian said the company is testing 30-year fixed mortgages at 4.99%—only available on homes bought via its platform, and just in beta for now. No points, no upfront fees to bring down the rate. “The product is in beta still. We have a lot to learn. Going well. Very early days,” Nejatian said. Inman
Opendoor’s decision would bring more financing in-house, but it’s raising fresh doubts about profitability. Their offer came in about a full percentage point under the Freddie Mac national average, and shares dropped 7% post-announcement, with investors wondering just how much margin Opendoor is conceding for the sake of growing volume.
Opendoor’s Q4 numbers, out February 19, offered investors some reassurance. The company posted a 46% jump in homes bought from the previous quarter, and the average time properties sat in inventory dropped by 23%. “This quarter demonstrates we are executing on that plan,” Nejatian said. Still, the company booked a $1.1 billion net loss for the period and now expects first-quarter revenue to slip about 10% from last quarter, though margins are set to improve. SEC
Wall Street’s still wary. UBS analyst Stephen Ju stuck with his Neutral call and a $5 target price after earnings, citing choppy near-term numbers as the company deals with legacy inventory and continues its overhaul.
The risk story hasn’t faded. Charlie Dougherty, senior economist at Wells Fargo, flagged that affordability “remains a significant limitation” even after February sales numbers beat expectations. Economists told Reuters late last month that a sub-6% mortgage rate likely won’t trigger a housing boom unless supply improves. And if Treasury yields climb on Middle East tensions, mortgage costs could jump again—right as the spring market heats up. Reuters
Opendoor has a bit of breathing space in the market for the moment. The bigger test looms: can the company translate more of its contracts into actual profitable sales before borrowing costs creep back up? That—not just offering mortgages below market rates—will determine if shares go higher from here.
