Using read without triggering a newline action on terminal

I currently have this

$PROMPT=">"
while read -p "${PROMPT}" line; do
  echo -en "\r"
  some_info_printout($line)
  echo -en "\n${PROMPT}"
done

which gives output like this

>typed input
INFO OUT ["typed input"]
>more text
INFO OUT ["more text"]
>

what I would like is to do a read and ignore the newline action such that preciding text can overwrite the existing line

INFO OUT ["typed input"]
INFO OUT ["more text"]
>

Any help would be appreciated.