Opendoor Technologies Inc (OPEN) surged 14% during intraday trading on Friday, following a broader rally in mortgage-related stocks.
The sharp rise comes after former U.S. President Donald Trump announced plans to purchase $200 billion in mortgage bonds, aiming to lower mortgage rates and housing costs. The initiative, which will be executed using funds from Fannie Mae and Freddie Mac, has sparked optimism in the housing market, benefiting digital real estate platforms like Opendoor.
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