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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
May

This month in history:
May 5, 1893
The Wall Street Crash of 1893 started.
May 10, 1869
The tracks of the Union Pacific and Central Pacific railways were linked at Promontory Point, Utah.
May 16, 1886
Congress voted to discontinue use of the half-disme, choosing to replace it with another five-cent piece, the nickel.
May 17, 1792
Two dozen merchants and brokers established the New York Stock Exchange.
May 19, 1930
The 27th Amendment to the U.S. Constitution was ratified, prohibiting Congress from giving itself pay raises.
Private equity firm Cerberus Capital Management buys troubled U.S. automaker Chrysler for $7.4 billion, signaling a growth in the economic muscle of hedge funds and the continued decline of the domestic auto industry.

Rupert Murdoch puts forward an unsolicited bid of $5 billion for control of Dow Jones, influential publisher of The Wall Street Journal.

The USDA announces record corn prices for 2007, putting upward pressure on food prices across the world and leading to criticism of the use of corn for manufacturing ethanol, a gas alternative.

A look at the numbers

Unemployment rate: 4.5 percent
CPI one-month change: +0.7 percent
Productivity: Q1 +0.7 percent
Average 60-month new-car loan: 7.7 percent
Federal funds rate: 5.25 percent
NAR existing homes sales: 5,980,000
Months' supply of existing home sales: 8.8
Existing home sales price: $222,700
Consumer debt: Q2 $2,449,900,000
Dow Jones industrial average high: 13,718.82
Average price for gallon of regular gas: $3.12
2007 FOMC meetings and federal funds target rate

 
2007 FOMC meetings and federal funds target rate
The Federal Reserve's rate-setting committee, the Federal Open Market Committee, meets at least eight times a year. The federal funds target rate is the short-term interest rate that banks charge other banks to borrow money overnight at the Federal Reserve.
-- 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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