Is the refinancing boom finally waning? If the latest reports from the two biggest mortgage banking companies are any indication, the answer is no. Countrywide Credit Industries Inc., Pasadena, Calif, said it wrote $4.7 billion of residential mortgages in October, up 39% from the $3.4 billion produced in October 1992.

The company's pipeline of loans in process rose to a record $9.6 billion at Oct. 31, from $9.1 billion as of Sept. 30 and from $6.4 billion a a year earlier.

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