Residential mortgages for new-home purchases increased in June, according to an Ellie Mae report.
Purchase mortgages made up 61% of originators' total mortgage volume in June, Ellie Mae said in its latest
The closing rate on purchase loans rose to 69%, according to the Pleasanton, Calif., provider of mortgage software.
"With a surging housing market and U.S. home sales at their highest level in years, lenders remained busy in June," Jonathan Corr, Ellie Mae's chief executive, said in a news release.
Refinancings made up 38% of closed loans in June, a drop from 42% in May.
The number of days to close a mortgage, either new purchase or refinance, rose to 48 from 46.
