01:27 PM EDT, 03/20/2024 (MT Newswires) -- Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each rising 0.2%.

The Philadelphia Housing Index was adding 0.6%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.5%.

Bitcoin (BTC-USD) was increasing 4.2% to $64,490, and the yield for 10-year US Treasuries was decreasing 2 basis points to 4.28%.

In economic news, the US Federal Reserve will announce its rate decision at 2 p.m. ET, followed by Chair Jerome Powell's press conference at 2:30 p.m.

Mortgage applications fell for the first time in three weeks as rates across most loan types rose, following February's stronger-than-expected inflation print, the Mortgage Bankers Association said Wednesday. The market composite index, which measures loan application volume, fell 1.6% for the week ended March 15.

In corporate news, UP Fintech ( TIGR ) shares tumbled past 10% after the company reported its Q4 earnings.