Technology

WASHINGTON — Federal Deposit Insurance Corp. Chairman Martin Gruenberg said Monday that federal regulators are keeping a close eye on the nonbank financial sector and how it is affecting banks.

Contracts to purchase previously owned homes rose less than forecast in September, showing housing will take time to gain momentum.

Over half of California's millennials see homeownership in their future living arrangements, according to the California Association of Realtors.

The nation's inventory of loans in foreclosure reached its lowest level since February 2008, according to a Black Knight Financial Services report.

Purchases of new homes were little changed in September after the prior month was revised down, showing an uneven recovery that will limit how much residential real estate contributes to growth.

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The rate of home price appreciation has slowed down to its lowest annual pace, according to the latest data from Zillow.

Mortgage rates declined, remaining at a 16-month low as more affordable borrowing costs fuel an increase in refinancing.

The nation's largest mortgage lender is the first to say it will distribute the new Closing Disclosure to consumers, but other lenders, especially smaller ones, may not follow along.

Cities in Texas and Washington in had the strongest housing markets in September, according to Pro Teck Valuation Services.