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LOW INTEREST RATES, SURGE OF REFINANCING ACTIVITY LED TO RECORD-SETTING YEAR FOR REAL ESTATE LENDING IN CALIFORNIA

 LA JOLLA, Calif., Jan. 28 /PRNewswire/ -- Low interest rates and the surge of refinancing activity led to a record-setting year for real estate lending in California, according to La Jolla-based Dataquick Information Systems.
 Dollar volume reached $263 billion last year, up 35.8 percent from $193 billion in 1991 (see chart). That was well ahead of the previous high of $231 billion in 1989. Volume totaled $210 billion in 1990.
 "There's no doubt that refinancing is quite a profit center for lenders. I think this may well have saved some of the more wobbly lending institutions," said Donald L. Cohn, Dataquick chief executive officer.
 Home refinancing added up to $149 billion of last year's total, up 87.4 percent from $79 billion in 1991.
 Bay Area counties saw the steepest rise in lending activity, while Southern California saw the slowest increase.
 Dataquick monitors all real estate buying and financing and provides data to lending institutions, title companies and industry analysts. The total numbers include all property loans, commercial as well as residential.
 All the non-residential lending categories saw declines in lending volume last year.
 Bank of America is easily California's largest lender with more than 6 percent of the state's recorded lending volume. Home Savings, Countrywide Funding, North American Mortgage and Great Western round out the top five.
 County
 Dollar Volume Pct.
 ($ Millions) 1991 1992 Chng.
 Los Angeles 56,552 72,667 28.5 pct.
 Orange County 21,756 30,268 39.1 pct.
 San Diego 16,282 23,368 43.5 pct.
 Riverside 8,615 10,039 16.5 pct.
 San Bernardino 8,583 10,464 21.9 pct.
 Ventura 5,342 7,191 34.6 pct.
 So.Calif. Total 117,130 153,997 31.5 pct.
 San Francisco 4,112 6,179 50.3 pct.
 Alameda 8,989 13,187 46.7 pct.
 Contra Costa 7,684 11,632 51.4 pct.
 Santa Clara 12,223 16,976 38.9 pct.
 San Mateo 5,647 8,572 51.8 pct.
 Marin 2,860 4,409 54.2 pct.
 Solano 2,357 3,120 32.4 pct.
 Sonoma 3,348 4,809 43.6 pct.
 Napa 892 1,287 44.3 pct.
 Bay Area Total 48,113 70,172 45.8 pct.
 Santa Cruz 1,763 2,537 43.9 pct.
 Santa Barbara 2,490 3,107 24.8 pct.
 San Luis Obispo 1,454 2,110 45.2 pct.
 Monterey 1,712 2,497 45.9 pct.
 Coast Total 7,418 10,251 38.2 pct.
 Sacramento 6,351 8,903 40.2 pct.
 San Joaquin 2,092 3,136 49.9 pct.
 Placer 1,896 2,685 41.6 pct.
 Kern 2,278 2,535 11.3 pct.
 Fresno 2,529 3,447 36.3 pct.
 Madera 412 497 20.5 pct.
 Merced 650 810 24.6 pct.
 Tulare 972 1,291 32.8 pct.
 Yolo 774 1,085 40.1 pct.
 El Dorado 1,149 1,602 39.4 pct.
 Stanislaus 1,681 2,314 37.7 pct.
 Inland Total 20,785 28,304 36.2 pct.
 All California 193,446 262,724 35.8 pct.
 -0- 1/28/93
 /CONTACT: John Karevoll, 714-867-9534/


CO: ST: California IN: FIN SU:

JL -- LA023 -- 0295 01/28/93 13:01 EST
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Date:Jan 28, 1993
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