Shares of Opendoor Technologies (NASDAQ: OPEN) soared 13% on Friday, driven by positive developments in the real estate market. President Trump announced plans to buy $200 billion in mortgage bonds, leading to a drop in mortgage rates. This move could boost home affordability and transaction volumes for companies like Opendoor.

Following Trump’s announcement, U.S. mortgage rates hit a three-year low. The reduced rates could enable more people to qualify for mortgages and encourage homeowners to list their properties, increasing housing supply. This combination of affordability and supply could benefit companies in the real estate market like Opendoor Technologies.

Read more at Yahoo Finance: Why Opendoor Stock Popped Today