Opendoor Stock Surges on Trump’s $200B Mortgage Bond Plan
Opendoor Technologies (OPEN) shares jumped 12.1% in extended trading after former President Donald TRUMP proposed a $200 billion federal mortgage bond purchase program. The plan, announced via Truth Social, aims to lower borrowing costs and improve housing affordability by deploying capital from Fannie Mae and Freddie Mac reserves.
The rally extended across proptech peers: Offerpad Solutions soared 58%, while Rocket Companies and UWM Holdings gained 7.1% and 7.2% respectively. Trump's intervention follows his earlier call to ban institutional homebuyers—a policy that initially battered Opendoor's stock before CEO Kaz Nejatian clarified the company doesn't operate as a rental-focused institutional investor.
Market reaction suggests traders view the bond plan as compensatory relief for the housing sector, though economists debate its efficacy. "Throwing liquidity at mortgages ignores structural supply constraints," noted one fixed-income strategist, speaking anonymously due to client relationships.