Better Home & Finance Holding (BETR) did not report any earnings per share (EPS) for Q3 2023, as no results were found for that specific quarter's EPS data in the search results. However, the company's financial performance has been impacted by high mortgage rates and a bleak debut, which led to a significant stock price drop and subsequent rebound.
- Impact of High Mortgage Rates: Better's profits have fallen as high mortgage rates have crushed demand for home loans. The popular 30-year fixed rate hit its highest level since 2000 last week, causing mortgage applications to hit a 28-year low. This indicates a challenging market environment for the company's core business.
- Bleak Debut and Stock Rebound: Better's stock experienced a dismal debut after merging with a blank-check company, with shares plunging by 93.4% on the day of the merger. However, shares clawed back some ground after hitting an all-time low, climbing 4.3% to $1.20 in early trading on Friday, August 25, 202312.
In conclusion, BETR's EPS in Q3 2023 was not available, but the company has faced significant challenges due to high mortgage rates and a difficult market environment, which have impacted its financial performance and stock price.