03:31 PM EDT, 08/20/2025 (MT Newswires) -- Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index increasing 0.5% and the Financial Select Sector SPDR Fund (XLF) up 0.6%.

The Philadelphia Housing Index was falling 2%, while the Real Estate Select Sector SPDR Fund (XLRE) was adding 0.6%.

Bitcoin (BTC-USD) was rising 0.9% to $114,253, and the yield for 10-year US Treasuries was 1.3 basis points lower at nearly 4.29%.

In economic news, mortgage applications in the US fell last week as the 30-year fixed rate on conforming loans ticked higher, the Mortgage Bankers Association said Wednesday. The market composite index, which measures loan application volume, dropped 1.4% on a seasonally adjusted basis for the week ended Friday, following a roughly 11% jump the week prior. Without adjustments, the index fell 2% on a weekly basis.

In corporate news, Upstart (UPST) shares climbed 3.6% after JPMorgan upgraded the company to overweight from neutral and cut its price target to $88 from $93.