03:26 PM EDT, 10/16/2024 (MT Newswires) -- Financial stocks were advancing in late Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each rising 1.1%.

The Philadelphia Housing Index was climbing 1.4%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 1%.

Bitcoin (BTC-USD) was increasing 1.2% to $67,877, and the yield for 10-year US Treasuries was down 2 basis points to 4.02%.

In economic news, mortgage applications in the US continued their downward trend for the third straight week as rates across all loan types increased, the Mortgage Bankers Association said.

In corporate news, Territorial Bancorp ( TBNK ) urged its shareholders in a letter Wednesday to support the acquisition offer from Hope Bancorp ( HOPE ) , and to reject an alternative proposal put forward by Blue Hill Advisors. Territorial shares rose 0.1% and Hope gained 2%.