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FEDERAL statistical • • f^AL RESERVE release ' ' G.10 For immediate r e l e a s e March 2, 1978 INTEREST RATES ON SELECTED CONSUMER INSTALMENT LOANS AT REPORTING COMMERCIAL BANKS I n t e r e s t R a t e ( P e r c e n t p e r annum) January December January 1977 1977 1978 D i r e c t Consumer Loans New a u t o m o b i l e s (36 months) 10.99 10.91 10.81 Mobile homes (84 months) 11.79 11.95 11.99 O t h e r consumer goods (24 months) 12.87 13.05 12.87 Other p e r s o n a l e x p e n d i t u r e s (12 months) 13.37 13.60 13.45 16.93 16.91 16.91 Credit card plans NOTE: The i n t e r e s t r a t e s shown i n t h i s r e l e a s e a r e b a s e d on a s u r v e y cond u c t e d by t h e F e d e r a l R e s e r v e System, w i t h 242 banks r e s p o n d i n g t o t h e s u r v e y i n J a n u a r y . Banks r e p o r t i n g i n e a c h c a t e g o r y numbered: new a u t o m o b i l e s , 233; m o b i l e homes, 60; o t h e r consumer g o o d s , 188; o t h e r p e r s o n a l e x p e n d i t u r e s , 234; c r e d i t c a r d p l a n s , 166. A l l r a t e s shown r e p r e s e n t s i m p l e u n w e i g h t e d a v e r a g e s of each b a n k ' s "most common" r a t e c h a r g e d d u r i n g t h e f i r s t f u l l c a l e n d a r week of t h e month i n each l o a n c a t e g o r y . The "most common" r a t e i s d e f i n e d a s t h e r a t e c h a r g e d on t h e l a r g e s t d o l l a r volume of l o a n s i n t h e p a r t i c u l a r c a t e gory d u r i n g the survey week. Rates r e p o r t e d a r e "annual p e r c e n t a g e r a t e s " a s s p e c i f i e d by R e g u l a t i o n Z ( T r u t h - i n - L e n d i n g ) .