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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
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
Financial review of 2007
December

This month in history:
Dec. 5, 1955
The AFL-CIO was founded with a joining of the American Federation of Labor and the Congress of Industrial Organizations, becoming the leading advocate for trade unions.
Dec. 15, 1993
Delegations from 117 countries approve the General Agreement on Tariffs and Trade, known as GATT. It was supposed to reduce international tariffs, eliminate trade quotas and protect intellectual property.
Dec. 23, 1913
The Federal Reserve Act was passed by Congress, establishing the Federal Reserve System to serve as the nation's central bank.
Dec. 23, 1947
The transistor, a creation that changed the world, was invented at Bell Laboratories by John Bardeen, Walter Brattain and William Shockley.
H&R Block shuts down its lending unit after failing to sell it to Cerberus Capital, laying off the division's 620 employees and leaving behind a portfolio of $1.1 billion in mortgages.

A coalition of business leaders, Federal Reserve officials and members of the Bush administration engineer a deal to freeze interest rates on adjustable rate mortgages in order to prevent a wave of anticipated foreclosures in 2008 and 2009.

The Federal Open Market Committee continues on its path and cuts rates another 25 basis points amid more talks of a looming recession and to ease housing concerns.

Just three months after her sister bombed on the MTV Video Music Awards, Jamie Lynn Spears, 16-year-old sister of Britney Spears, drops her own bomb and announces she is 12 weeks pregnant.

A look at the numbers

Unemployment rate: Not yet released
CPI one-month change: Not yet released
Productivity: Not yet released
Average 60-month new-car loan rate: Not yet released
Federal funds rate: Not yet released
NAR existing homes sales: Not yet released
Months' supply of existing home sales: Not yet released
Existing home sales price: Not yet released
Consumer debt: Not yet released
Dow Jones industrial average high: Not yet released
Average price for gallon of regular gas: Not yet released
One-year CD yield (Bankrate)

 One-year CD yield (Bankrate)
The numbers show the average rate nationwide for a one-year CD (certificate of deposit.)
-- 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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