Why Opendoor Technologies Stock Slipped 12.5% In October
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Opendoor Technologies' stock fell by 12.5% in October due to the impact of rising mortgage rates on residential real estate loans.
November 07, 2024 | 5:45 am
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Opendoor Technologies experienced a 12.5% decline in stock price in October, primarily due to the adverse effects of increasing mortgage rates on the residential real estate market.
The increase in mortgage rates negatively impacts the affordability of residential real estate, which is a core market for Opendoor Technologies. This has led to a decrease in demand for their services, directly affecting their revenue and stock price.
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