According to the recent Federal Reserve Statistical Release, consumer credit increased at an annual rate of 3.75 percent in July.

Nonrevolving consumer credit increased at an annual rate of 2 percent, down from the 5.3 percent increase in June and almost 2 percent from last year. Between May and July there was almost a $10 billion increase in seasonally adjusted consumer credit.

Interest rates at auto finance companies for new cars have increased to 4.74 percent from 4.66 percent in June, still slightly below the 4.88 percent seen in May.

Loan maturities have continued to slowly decrease over the past few months, hitting a high in May with 61.1 months, but dropping in June to 58.7 and falling by only 0.1 to 58.6 months in July. Loan-to-value ratio remained steady from June to July at 92 percent.

Amount financed is coming back up, falling to $26,929 in June from $27,163 in May, but rising again to $27,090 in July.

Nonrevolving consumer credit hit $1.540 trillion in July, up $4 billion from June and almost $8 billion from May. Finance companies represent the majority of that at $472 billion, a $6 billion increase from last month. Commercial banks represent $428 billion, the second largest segment, up $1 billion from June. Pools of securitized assets made up $234 billion of that, a $5 billion decrease from last month, while consumer credit in credit unions increased by $2 billion from June to $209 billion. Federal government and Sallie Mae remained about the same from June, together representing about $94 billion, and savings institutions and nonfinancial businesses remained steady as well at about $50 billion each.