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Bankrate's 2008 Financial Forecast
A look back at 2007
When it comes to personal finance, you can learn a lot about what will happen by looking at what has happened.
Month-by-month snapshot
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Financial review of 2007
August

This month in history:
Aug. 1, 1775
The first article proposing women's rights in America was written by Thomas Paine for Pennsylvania Magazine, of which he was the editor. Only 145 years later, the 19th Amendment to the U.S. Constitution was ratified, granting women the right to vote.
Aug. 6, 1881
Alexander Fleming, who later discovered penicillin, was born. He made his discovery when he found that mold from soil killed deadly bacteria without injuring human tissue.
Aug. 14, 1935
President Franklin D. Roosevelt signed the Social Security Act establishing the Social Security system.
Aug. 16, 1896
Gold was discovered in Rabbit Creek, a tributary of the Klondike River in Alaska, resulting in the Great Klondike Gold Rush.
American Home Mortgage, one of the largest independent U.S. home loan providers, files for Chapter 11 bankruptcy.

In an attempt to keep the growing subprime troubles from spreading to stock markets, the Federal Reserve pumps billions of dollars worth of cash into world markets.

Apple gets bruised as the largest provider of video content for iTunes, NBC Universal, announces plans to let its contract with Apple expire. NBC cites disagreements with Apple's content pricing structure as the reason for the move.

Chinese toy executive Zhang Shuhong, head of Lee Der Industrial, the company that produced many of the toys recalled by American toy giant Mattel, is found dead of an apparent suicide at a company warehouse.

A look at the numbers

Unemployment rate: 4.6 percent
CPI one-month change: (-0.1) percent
Productivity: Q2 +2.6 percent
60-month new-car loan rate: 7.77 percent
Federal funds rate: 5.25 percent
NAR existing homes sales: 5,480,000
Months' supply of existing home sales: 9.6
Existing home sales price: $224,400
Consumer debt: Q3 $2,482,000,000
Dow Jones industrial average high: 13,769.63
Average price for gallon of regular gas: $2.78
Average sales prices of existing homes (NAR)

 
Average sales prices of existing homes (NAR)
The national average price of used homes sold during that month, according to the National Association of Realtors.
-- Posted: Dec. 10, 2007
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Compare Rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.45%
48 month new car loan 3.77%
1 yr CD 0.89%
Rates may include points
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