01:58 PM EST, 12/17/2025 (MT Newswires) -- Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index easing 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) fractionally higher.

The Philadelphia Housing Index was falling 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.2%.

Bitcoin (BTC-USD) was dropping 2.2% to $85,877, and the yield for 10-year US Treasuries was rising 1 basis point to nearly 4.16%.

In economic news, mortgage applications fell 3.8% in the week ended Dec. 12 as average 30-year mortgage rates rose, according to Mortgage Bankers Association data released Wednesday. This follows a 4.8% jump in overall activity in the week ended Dec. 5.

In corporate news, UWM (UWMC) will buy Two Harbors Investment ( TWO/PA ) in an all-stock merger deal for an equity value of $1.3 billion, the companies said Wednesday. Two Harbors shares jumped 13%, and UWM shares fell 5%.

KKR (KKR) is close to a multibillion-pound deal to sell up to half of its UK waste management business Viridor to infrastructure investor Equitix, the Financial Times reported. KKR shares were down 0.5%.

Blackstone (BX) is the main investor in a $400 million financing for data security firm Cyera that values the company at $9 billion, The Wall Street Journal reported. Blackstone shares added 0.4%.