Mortgages Losing Market Share on Home Purchase Financing to Cash Financing, Driven by Investors
March 28, 2013
The mortgage share of home-purchase financing has declined significantly in recent months as a result of an influx of investors using cash to buy homes, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. Cash buyers are killing the financed buyer options, according to a real estate agent in New York state. Buyers are waiving every protection to get the deal.