03:26 PM EDT, 09/25/2024 (MT Newswires) -- Financial stocks fell in late Wednesday afternoon trading with the NYSE Financial Index down 0.6% and the Financial Select Sector SPDR Fund (XLF) off 0.7%.

The Philadelphia Housing Index dropped 1.5%, and the Real Estate Select Sector SPDR Fund (XLRE) declined 0.3%.

Bitcoin (BTC-USD) dropped 1.6% to $63,334, and the yield for 10-year US Treasuries rose 4.5 basis points to 3.781%.

In economic news, mortgage applications jumped 11% during the week ended Friday to the highest since July 2022, boosted by an eighth weekly drop in mortgage rates, according to Mortgage Bankers Association data.

US new-home sales fell to a 716,000 annual rate in August from an upwardly revised 751,000 rate in July, compared with the 700,000 rate expected in a survey compiled by Bloomberg.

In corporate news, MetLife ( MET ) got a favorable decision from the US Court of Appeals for the Third Circuit in a case by former employees blaming the company for mismanaging their health plan and taking $65 million in drug rebates. MetLife ( MET ) shares gained 0.8%.