- Last week, Freddie Mac noted that, based on results of its Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 5.98%.
- In February, during an exclusive interview with Stocktwits, Nejatian noted that Opendoor was developing its mortgage product.
- Nejatian said on Monday that the product was still in beta and was in its early days.
Opendoor Technologies CEO Kaz Nejatian said in a post on X that the company is now locking in a 4.99% mortgage rate for its homes for buyers as part of its plan to scale its own mortgage to cut out middlemen.
“The product is in beta still. We have a lot to learn. Going well. Very early days,” Nejatian said in the post. In February, during an exclusive interview with Stocktwits, Nejatian noted that Opendoor was developing its mortgage product, which is in beta phase as the company pushes to enable itself to issue its own mortgage on homes it sells.
Opendoor stock was down over 1% in overnight trading on Monday. Shares of Opendoor have declined more than 13% so far this year, compared with the 264% surge witnessed in 2025.
Current US Mortgage Rates
Last week, government-backed housing-finance giant Freddie Mac noted that, based on results of its Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 5.98%. “For the first time in three and a half years, the 30-year fixed-rate mortgage dropped into the 5% range, falling even lower than last week's milestone,” said Sam Khater, Freddie Mac’s Chief Economist.
He added that this rate, combined with improving home availability, is meaningful and will draw more potential buyers into the market for the spring homebuying season.
OPEN Earnings Momentum Fading
Last month, Opendoor reported fourth-quarter revenue that topped Wall Street estimates but posted an adjusted net loss of $62 million and projected a 10% sequential decline in revenue for the current quarter.
The company's focus on its iBuyer model, which aims to streamline home sales and eliminate traditional brokerage fees, has not yet convinced everyone. Such a capital-intensive model in a fragmented market has even forced peers such as Zillow Group, Inc to drop the segment altogether.
A week ago, research firm BTIG reiterated a 'Neutral' rating on OPEN, describing the latest quarterly results as "okay" relative to modest expectations as the company works through legacy inventory acquired under prior management. The firm said it remains too early to determine whether the new leadership's strategy is gaining traction.
While acquisitions are ramping and management says margins are improving for newer cohorts, BTIG noted that those gains have yet to flow through to consolidated results meaningfully and are difficult to verify independently.
How Are Stocktwits Users Reacting?
Retail sentiment on Opendoor was in the ‘bullish’ territory compared to ‘extremely bullish’ a week ago, with message volumes at ‘normal’ levels, according to data from Stocktwits.
“Opendoor is offering some of the best rates in the market for mortgage now and they can only do it because they own the whole stack,” a bullish user on Stocktwits said.
In the last 24 hours, retail message volume on Stocktwits for OPEN jumped 617%.
Shares of Opendoor Technologies Inc. have surged more than fourfold over the past 12 months. Even so, the stock currently remains more than 50% below its recent high of $10.87 reached in September, around the time Nejatian took over as CEO.
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