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For immedititte release
Au'fht 6, 1974
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4 1 ~£18('Y.LJfi>y
Finance Rates and Other Terms on Selected Categories of
Consumer Instalment Credit Extended by Finance Companies
(Not seasona 11y a d juste d)
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Customer finance rate
(per cent per annum)
Period
{
;I.J'~fJ$·
Average amount"
.· anced
(dollars) ·
Average maturity
(months)
Mobile
homes
"Other
consumer
goods" 1/
Personal
loans
Mobile
homes
"Other
consumer
goods" 1/
Personal
loans
Mobile
homes
January
12.51
19.04
21.00
112.2
21.3
32.3
6,360
395
1,001
March
12.54
18.92
20.79
113.8
21.1
33.1
6,433
402
1,057
May
12.73
18.88
20.76
115.5
21.9
34.2
6,605
409
1,104
July
12.77
18.93
20.55
116.3
21.6
33.5
6,700
408
1,134
September
12.90
18.69
20.52
118.2
21.1
33.5
6, 911
407
1,098
November
13.12
18.77
20.65
118.2
21.4
34.2
6,858
408
1,121
January
13.24
18.90
20.68
118.6
20.9
33.5
6,892
412
r 1,092
March
13.15
r 18.69
r 20.57
119.5
r 21.7
34.4
6,978
r 449
r 1,143
"Other
consumer
goods" 1/
Personal
loans
1973
1974
1,203
7,124
439
18.90
20.57
120.5
21.7
35.5
13.07
11 Excludes automobiles and recreat1onal veh1cles.
r--Revised.
NOTE: The data shown on this release are compiled from a bimonthly survey conducted by the Board of Governors
of the Federal Reserve System. For mobile homes and "other consumer goods," the data cover contracts purchased
by finance companies, primarily from retail outlets; for personal loans, they cover secured and unsecured loans
made directly by finance companies for household, family or other personal expenditures. Rates are reported on
an Annual Percentage Rate basis as specified in the Federal Reserve Board's Regulation Z (Truth-in-Lending).
May
@FedFRASER