Sector Update: Financial Stocks Lower in Afternoon Trading

02:00 PM EDT, 09/24/2025 (MT Newswires) -- Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index shedding 0.5% and the Financial Select Sector SPDR Fund (XLF) off 0.4%.

The Philadelphia Housing Index was rising 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.5%.

Bitcoin (BTC-USD) was increasing 1% to $113,826, and the yield for 10-year US Treasuries was rising 2.3 basis points to 4.14%.

In economic news, US new home sales jumped by 20.5% to an 800,000 annual rate in August from an upwardly revised 664,000 annual rate in July, compared with a decrease to a 650,000 rate expected in a survey compiled by Bloomberg.

Mortgage applications rose by 0.6% in the week ended Sept. 19 due to a further decline in 30-year fixed mortgage rates to their lowest point since September 2024, according to Mortgage Bankers Association data.

In corporate news, Douglas Elliman's (DOUG) trading activity ahead of reports of a takeover bid by Anywhere Real Estate (HOUS) is being looked into by the Financial Industry Regulatory Authority, Reuters reported. Douglas Elliman (DOUG) shares were down 3.7% while Anywhere shares were up 1.5%.

UBS (UBS) plans to increase payouts for its US wealth advisers starting Jan. 1 as part of efforts to maintain retention and boost recruitment amid rising competition for talent, Bloomberg reported. UBS shares were down 1.3%.

DeFi Technologies (DEFT) shares jumped past 11% after the company said Wednesday it has entered into a partnership with SovFi to create a new sovereign finance framework.

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