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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

This month in history:
Nov. 4, 1890
In London, the first electrified underground railway system was opened.
Nov. 15, 1867
The first stock debuted on the New York Stock Exchange.
Nov. 17, 1993
NAFTA, the North American Free Trade Agreement, was approved by the U.S. House of Representatives.
The price of oil sets a new record of $98.62 a barrel as the dollar weakened and global demand grew, prompting fear of a new age of "stagflation" comparable to that experienced in the 1970s.

Hollywood writers went on strike over not receiving a share of Internet revenue for their work, prompting fear of having to watch reruns of "Ugly Betty."

In a depressing sign of the times, Rite Aid stores in the West start selling paternity test kits. The test kits come from a company called Sorenson Genomics, which uses the slogan: "For questions only DNA can answer."

Levitt and Sons becomes the largest homebuilder in the country to declare bankruptcy in the wake of a continued slump in new home sales.

A look at the numbers

Unemployment rate: 4.7 percent
CPI one-month change: Not yet released
Productivity: Not yet released
Average 60-month new-car loan rate: 7.61 percent
Federal funds rate: Cut to 4.5 percent Oct. 31
NAR existing homes sales: 5,000,000
Months' supply of existing home sales: 10.3 months
Existing home sales price: $210,000
Consumer debt: Not yet released
Dow Jones industrial average high: 14,279.96
Average price for gallon of regular gas: $2.79
Average fixed credit card rate (Bankrate)

 Average fixed credit card rate (Bankrate)
This number indicates the average annual percentage rate, or APR, for fixed-rate credit cards, excluding introductory and penalty rates. Each Thursday, Bankrate releases a survey of large lenders in the top 10 markets to get a national snapshot of where rates stand.
-- Posted: Dec. 10, 2007
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30 yr fixed mtg 4.45%
48 month new car loan 3.77%
1 yr CD 0.89%
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