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Opendoor Technologies shares jumped 7% to $2.14 in morning trading as the yield on the 10-year Treasury note dropped to 5.1%, a move that lifted other housing-linked stocks.
Zillow Group shares rose 7% to $31.40, while Compass shares climbed 6% to $9.32, tracking the broader rally in the sector.
The shift in bond markets is driving the equity gains, as lower long-term borrowing costs typically reduce mortgage rates and improve housing affordability.
This dynamic particularly benefits Opendoor, which purchases homes onto its own balance sheet, repairs them, and resells them.
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