How do I open a new Terminal window for same directory as the current window When I have a Terminal window open, ⌘N opens a new one.

Is there any way to get the current directory in the new window to automatically be the same as it was on the window where I pressed ⌘N?
To accomplish this within a new window, go to Preferences within Terminal.app.
Within the General tab, you can adjust the behavior (you likely want to select Same Working Directory) for both new windows and new tabs.