It also increased in Arizona and Nevada. According to the Federal Home Loan Bank of San Francisco, mortgage lending at savings institutions headquartered in the three states rose to $3.9 billion from $3.6 billion in October. Mortgage loans closed totaled $53.4 billion through the end of November after topping 1983's record volume of $45.5 billion by September. The normal seasonal decrease in lending was reversed in November, apparently due to falling mortgage interest rates, the Federal Home Loan Bank reported.
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