NEW YORK, July 25, 2026, 15:04 EDT — U.S. trading wrapped up with markets closed.
- Opendoor ended Friday at $3.835, falling 14.8% in the past five sessions.
- The 30-year average mortgage rate climbed to 6.58%, marking its highest level since August 2025.
- The Federal Reserve is scheduled to meet on July 28-29. Opendoor will announce its second-quarter earnings on August 4.
Opendoor Technologies shares closed 0.3% lower on Friday at $3.835, marking a 14.8% decline from the previous Friday’s $4.50 close.
Based on its most recent disclosed share count, the drop wiped out about $640 million in implied equity value. Opendoor’s valuation was roughly $3.7 billion following the move.
However, its exposure to interest-rate changes is restricted. As of March 31, 85% of Opendoor’s $1.1 billion in asset-backed debt had fixed interest rates.
The company estimated that a one percentage point rise in the benchmark rate would boost its yearly interest expense by roughly $2 million. This comparison indicates that investors are more concerned about weaker home sales and extended holding periods than the floating-rate expense.
Mortgage rates increased, heightening worries. The 30-year average from Freddie Mac climbed for a third consecutive week, hitting 6.58%.
New-home sales data released Friday came in stronger than expected. Sales increased by 1.6%, reaching an annual rate of 628,000, exceeding the consensus forecast of 610,000.
Still, sales were 5.6% lower compared with a year earlier. The median price for a new home dropped by 2.7% to $398,300.
Opendoor’s primary market, home resales, is showing signs of softening. June’s annualized sales of existing homes dropped by 2.4% to 4.09 million, and the median sales price climbed to $440,600.
Oxford Economics economist Matthew Martin said, “Rising mortgage rates and the hit to household income from higher inflation will keep sales in a noisy range in the near term.” Reuters
| Housing-linked security | Week ended July 24 |
|---|---|
| Opendoor Technologies NASDAQ:OPEN | -14.8% |
| Offerpad Solutions NYSE:OPAD | -22.4% |
| Zillow Group NASDAQ:Z | -9.3% |
| iShares U.S. Home Construction ETF (BATS:ITB) | -1.5% |
Stock movements reflect close-to-close figures from July 17 to July 24. The ETF change was disclosed on Friday.
The two cash-offer firms recorded the biggest declines. Builders remained steadier, even as borrowing costs climbed to an 11-month peak.
The distinction is significant. Opendoor holds properties as it looks for purchasers, making the pace of resales key to profit margins and cash flow.
At the end of March, Opendoor held 3,420 houses valued at around $1.14 billion. Of these, 10% had been listed for over 120 days, a decline from 33% the previous quarter.
Management reports that more recent acquisition cohorts are seeing quicker sales. Home purchases increased by 45% from the prior quarter, and the number of signed acquisition contracts surged to over 5,000, doubling from before.
Chief Executive Kaz Nejatian stated in May, “Better acquisitions, faster turns, stronger margins. The machine is working.” SEC
The company’s second-quarter report will put that assertion to the test. Opendoor expects adjusted EBITDA to be roughly at break-even, with a possible variance of several million dollars up or down.
The company is projecting contribution margin close to the center of its 5%-7% goal range. Adjusted EBITDA for the first quarter stood at negative $31 million.
The Federal Reserve meeting scheduled for July 28-29 is now the primary focus for the upcoming week. On Friday, rate markets indicated an estimated one-in-three probability of a hike, according to Reuters.
June inflation figures and Q2 GDP numbers are set for release on July 30, potentially affecting Treasury yields and mortgage rates ahead of Opendoor’s earnings.
Opendoor is set to host its financial webcast on August 4 at 5 p.m. EDT. Investors are expected to pay attention to contribution margin, aged inventory, and resale speed.
Risks are balanced in both directions. A drop in mortgage rates may boost transactions and cause high-beta shares to surge. Additional rate hikes, a decline in home prices or slower resale activity could prolong holding periods and squeeze margins.
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