The Traderszone Network

Published in TZ Latest News 8 May, 2014 by The TZ Newswire Staff

U.S. cash home purchases surging as rates rise

Greg Leffel, an investor in Columbus, Ohio, said he relishes cash deals as much as he dislikes home loans. Investors like Leffel helped spur all-cash home purchases to a record 43 percent of U.S. deals in the first quarter, more than double the share a year ago, according to data firm RealtyTrac Inc. Cash is keeping residential sales trudging along while mortgage lending plummets, hurt by rising interest rates and stiff credit requirements.

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