Prices rose less than expected in November, the latest sign that the runaway inflation that has been gripping the economy is beginning to loosen up.  The consumer price index, which measures a wide basket of goods and services, rose just 0.1% from the previous month, and increased 7.1% from a year ago, according to the Labor Department.  The increase from a year ago, while well above the Federal Reserve’s 2% target for a healthy inflation level, was tied for the lowest since November 2021.

U.S. small-business confidence rebounded in November, according to a survey on Tuesday, which also showed that inflation and worker shortages remained major issues for business owners.  The National Federation of Independent Business said their Small Business Optimism Index rose 0.6 point to 91.9 last month amid an improvement in the share of owners who expected better business conditions over the next six months.

Mortgage rates maintained a downward trajectory last week, dropping for the fourth time in as many weeks. The average rate for a 30-year fixed-rate mortgage dropped to 6.33% for the week ending Dec. 8, this was a decrease from the previous week when it averaged 6.49%. The 15-year mortgage was 5.67% last week, down from 5.76% the week.