WASHINGTON, D.C. — The string of jumps in the average interest rate on new-car loans at auto finance companies continued for the fourth month in October, according to the Federal Reserve.

Officials discovered the October average jumped to 4.52 percent, the highest point it has been since February.

The average rate has steadily climbed since July when the Fed pinpointed it at 3.87 percent. In August, it came in at 4.01 percent and then it reached 4.35 percent a month later.

While the average interest rate increased, the Fed noticed that both the median maturity level and the loan-to-value ratio dipped in October.

The median maturity level slid to 63.4 months, while the loan-to-value ratio retreated to 83, by far the lowest point of 2010.

The average interest rate on 48-month new-car loans at commercial banks was not available for October. However, this figure was 6.24 percent in August and for the third quarter of 2010.

Wrapping up its report, the Federal Reserve mentioned, "Consumer credit declined 1.5 percent at an annual rate in the third quarter. Revolving credit declined 8.75 percent at an annual rate, and non-revolving credit increased 2.5 percent.

"In September, consumer credit increased 1 percent at an annual rate," officials also pointed out.