Zillow Slides as Mortgage Business Faces Higher Rate Headwinds
Opendoor shares fell 7% to $2.79 after CEO Kaz Nejatian said the adjusted net income break-even timeline slipped by six to eight weeks, citing higher Treasury yields and weaker quarterly revenue. He added Opendoor will price to clear homes even if margins are pressured. Zillow Group shares also slid as its mortgage segment faces the same rate headwind.