Lending in March Highest Since ’88

California real estate lending totaled $24.5 billion in March, the highest monthly total since December, 1988, when it was $25.3 billion, according to Dataquick Information Systems of La Jolla.

A total of $61.2 billion in loans were recorded during the first quarter, up 62.9% from last year’s first-quarter $37.6 billion, and 10.9% ahead of $55.2 billion for fourth-quarter 1991, Dataquick reported.

The totals include all lending activity, commercial as well as residential.

California’s five largest real estate lenders during the first quarter were Bank of America, Home Savings, Great Western, Security Pacific and Countrywide Funding.

The newly combined Bank of America/Security Pacific accounts for 7% to 8% of all real estate lending in California, twice as much as Home Savings, the nearest competitor.