New York, Jan 15, 2026, 10:24 EST — Regular session
- Opendoor shares slipped roughly 1% in early trading amid renewed volatility in rate-sensitive housing stocks
- Recent U.S. housing figures and mortgage loan demand data suggest a slight rebound in activity
- Traders remain focused on Treasury yields and upcoming moves related to the $200 billion mortgage-bond plan
Opendoor Technologies Inc (OPEN.O) shares dropped 1.2% to $6.56 Thursday morning, reversing some of their recent advance. The stock kicked off at $6.70 and fluctuated between $6.54 and $6.79 by 10:24 a.m. EST, as investors digested new U.S. housing figures amid a volatile bond market.
Housing showed signs of improvement in some areas. U.S. existing-home sales surged 5.1% in December, reaching a 4.35 million annual pace—above expectations, according to the National Association of Realtors. Chief economist Lawrence Yun noted that “conditions began improving, with lower mortgage rates and slower home price growth.” Reuters
Mortgage demand outpaced home sales last week. The Mortgage Bankers Association reported a 28.5% jump in applications for the week ending Jan. 9. Refinance activity soared even higher, up 40% from the previous week. “Mortgage rates dropped lower last week,” said MBA deputy chief economist Joel Kan, noting the 30-year fixed rate fell to 6.18%. MBA
Opendoor has been fixated on the rate tape for good reason. President Donald Trump’s proposal includes $200 billion in mortgage-backed securities purchases — bonds tied to home loan pools — through Fannie Mae and Freddie Mac, the government-backed housing giants. Barclays strategist Jonathan Hill believes this new demand is already “fully priced in” and added it ultimately “comes back to Treasuries.” Reuters
Treasuries have been moving on a different track, and any easing in rates could vanish quickly. Mike Sanders, head of fixed income at Madison Investments, noted that mortgage rates “are likely to stay elevated” as long-term yields hover above 4%. Meanwhile, new-home sales dipped 0.1% in October, hitting a 737,000 annual pace, while the median price dropped 8% compared to last year, according to government data. Reuters
Opendoor operates a digital platform for residential real estate deals and also buys and sells homes directly, wagering it can price and flip inventory fast. This approach exposes its shares to fluctuations in housing demand and financing costs.
Investors saw it as part of a wider bet on housing. When Trump announced the mortgage-bond buys on Jan. 9, Opendoor surged almost 19%, with mortgage lenders Rocket Companies and UWM Holdings also gaining. Major homebuilders saw their shares rise too, Reuters reported.
Thursday’s pullback points to renewed choppiness in the trade. The key factor now is whether the gap between mortgage rates and Treasury yields tightens further, rather than just the volume of buying orders.
Opendoor needs actual transactions to prove demand. More listings mean a bigger inventory to purchase, while higher buyer interest speeds up resales and reduces holding risks.
The downside is a familiar story: rising yields push mortgage rates higher, freezing the market. Sellers hold tight, and inventory slows to a crawl.
Coming up next: the World Economic Forum annual meeting in Davos-Klosters, slated for Jan. 19-23. Housing-sector traders will be on alert for fresh policy clues that might nudge interest rates—and, in turn, shake up Opendoor.
