Opendoor Technologies Stock Surges Amid Falling Mortgage Rates and Institutional Interest
Opendoor Technologies (OPEN) shares soared 14% on Friday, capping an 8% weekly gain as declining mortgage rates and bullish institutional activity fueled investor optimism. The stock has skyrocketed 342% year-to-date, rebounding from a June low of $0.50 to its current $8-$10 range.
Jane Street Group's disclosure of a 5.9% stake—over 44 million shares—signaled strong institutional confidence. Morgan Stanley reinforced this sentiment, doubling its price target from $2 to $6. The rally coincided with 30-year mortgage rates dropping to 6.19%, their lowest level in over a year, potentially stimulating housing demand that benefits Opendoor's iBuying model.
Federal Reserve Chair Jerome Powell added momentum by hinting at potential 2026 rate cuts, with labor market softening supporting a dovish pivot. The convergence of macroeconomic tailwinds and strategic investments paints a bullish picture for the proptech disruptor.
