Opendoor Technologies Inc. (NASDAQ:OPEN) saw a 13.37% surge on Friday to $7.97 per share amid growing expectations of an interest rate cut. The US central bank is likely to cut rates by 25 basis points due to lower than expected consumer inflation, benefiting Opendoor and the real estate sector sensitive to interest rates.

The potential rate cut could boost lending for homebuyers, benefiting Opendoor Technologies Inc. (NASDAQ:OPEN) and its plans for nationwide expansion. The Federal Reserve is expected to announce another rate cut by year-end, supporting borrowing and OPEN’s growth prospects in the US market.

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Read more at Yahoo Finance: Opendoor (OPEN) Soars 13% on Rate Cut Prospects for Real Estate Market