WASHINGTON -- U.S. consumer borrowing rose by $15.29 billion in March, far more than expected and the biggest rise since November, a Federal Reserve report showed on Wednesday in a sign that tight consumer credit markets could be starting to loosen.

Overall March consumer credit rose at a 7.21 percent annual rate, to a total of $2.558 trillion as both credit card borrowing and installment loans grew at healthy paces.

Analysts polled by Reuters were expecting a $6 billion rise in March consumer borrowing.

The Fed report also showed the February increase was revised upward to a $6.54 billion gain from an originally reported increase of $5.16 billion.

Non-revolving credit, which includes closed-end loans for big-ticket items such as cars, boats, college educations and holidays, rose $9.01 billion, at a 6.79 percent rate, to $1.601 trillion in March. This compares to an upwardly revised February increase of $2.61 billion.

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Revolving credit, comprising credit and charge cards, rose $6.28 billion or 7.92 percent, to $957.21 billion. This compares to a downwardly revised February gain of $3.93 billion.

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