WASHINGTON, D.C. — Continuing the downward push seen throughout the quarter, the Federal Reserve indicated the average interest rate on new-car loans at auto finance companies slipped again in April. Federal officials pinpointed the average at 4.13 percent.

The April rate is slightly less than what the Federal Reserve tallied for February and March. Officials determined it was 4.72 percent in February and 4.28 percent a month later.

Though the average is edging toward 4 percent, it still remains higher than much of 2009. The Federal Reserve reported rates below this threshold for the second, third and fourth quarters of last year with the lowest coming in the second quarter at 3.45 percent.

Continuing on, the Fed discovered that the median maturity level came in at 62.8 months in April, the same mark as March. In February, it was 62.5 months.

As for the loan-to-value ratio, this figure stood at 88 in April, the second consecutive month at that level. In February it was slightly higher at 89. The Fed mentioned the lowest recent figure in this category was in the first quarter of 2009 when the loan-to-value ratio was 87.

Meanwhile, the average amount financed dropped slightly to $27,797 in April, compared with $27,912 in March and $28,040 in February.

Unfortunately, the average interest rate on 48-month new-car loans at commercial banks was not available for March or April. However, this figure was 6.45 percent in February and 6.55 percent for the fourth quarter of 2009.

Finally, the Federal Reserve reported, "consumer credit increased at an annual rate of 0.5 percent in April 2010. Revolving credit decreased at an annual rate of 12 percent, and nonrevolving credit increased at an annual rate of 7 percent."