If you were wondering where all that mortgage lending was taking place, wonder no longer; new mortgage data from Mortgagestats.com, based on HMDA figures released by the Fed, makes it all a little clearer.
During 2008, mortgage lending was strongest in the Golden State, with $363 billion in loan origination volume.
California was followed by Texas, which was a distant second with $113 billion, and Florida rung in third with $103 billion; Illinois was a close fourth with $101 billion, followed by New York with $95 billion.
In 2007, Florida held the second spot and Texas was third; New York was fourth and Illinois was fifth.
Back then, lending volume in California was $658 billion, $223 billion in Florida, and around $140 billion in the remaining states in the top five.
Here is the entire top ten for 2008 (in thousands of dollars):
1. California – $363,094,865
2. Texas – $112,938,856
3. Florida – $102,532,987
4. Illinois – $101,016,098
5. New York – $95,139,669
6. New Jersey – $79,348,833
7. Washington – $76,138,784
8. Virginia – $74,133,602
9. North Carolina – $63,086,701
10. Pennsylvania – $62,544,437
Mortgage lending was lightest in the Dakotas and Vermont.
Banks and mortgage lenders in North Dakota funded just $2.5 billion during the year, Vermont closed $3.7 billion, and South Dakota hammered out $3.9 billion.
(photo: marxchivist)
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