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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (4599)1/8/2004 4:07:09 PM
From: ild  Read Replies (1) of 110194
 
Consumer installment credit expanded by $4.1 billion in November, in line with expectations. This was less than half as rapidly as the pace recorded for October. Revolving credit dropped in November while nonrevolving credit increased by $4.6 billion. Revolving credit includes credit card debt and suggests that consumers were not accelerating debt usage in November. At the same time, the increase in nonrevolving credit reflects gains in motor vehicle sales where loans on vehicle purchases are the norm.

New car loan rates at auto companies remained virtually unchanged in November at 3.93 percent. This is significantly lower than the 6.82 percent rate offered on auto loans at commercial banks.
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