Digital mortgage lender Better, backed by SoftBank, announced its plans to go public on the Nasdaq stock exchange via a merger with a blank-check company. After a tumultuous two years marked by regulatory scrutiny and declining mortgage demand, the listing will test market appetite for home lenders amidst U.S. Federal Reserve rate hikes. The merger will provide Better with $550 million from SoftBank, which will be used to expand mortgage product offerings in anticipation of increased demand for refinancings next year. The company plans to go public as U.S. mortgage rates continue to rise, contributing to weakened home builder confidence in August.