03:37 PM EDT, 07/17/2024 (MT Newswires) -- Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index up 0.5% and the Financial Select Sector SPDR Fund (XLF) ahead 0.8%.

The Philadelphia Housing Index was falling 1.3%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.8%.

Bitcoin (BTC-USD) was declining 0.6% to $64,677, and the yield for 10-year US Treasuries was down 2 basis points to 4.15%.

In economic news, US industrial production rose 0.6% in June, above expectations for a 0.3% increase in a survey compiled by Bloomberg, and following an upwardly revised 0.9% increase in May.

June housing starts rose by 3% from the previous month to a 1.353 million annual rate after a decrease to a 1.314 million pace in May.

Mortgage Bankers Association data showed that mortgage applications rose by 3.9% in the week ended July 12, after a 0.2% decline in the previous week as 30-year fixed mortgage rates declined to their lowest level since March.

In corporate news, First Community (FCCO) shares popped 3.3% after the company reported better-than-expected Q2 results and increased its quarterly dividend.