The share of closed loans for home purchases ticked up another point in June, to 71 percent. While Ellie Mae has only tracked data since 2011, this represents a new high for those loans in the company's Origination Insight Report. The purchase share was also up 1 point for FHA loans, at 81 percent and rose 2 points for VA loans and 3 for conventional loans to 77 percent and 69 percent respectively.

The allocation of newly originated loans across product types seems cast in amber. Shares have remained essentially unchanged since March at 66 percent conventional, 20 percent FHA, and 10 percent VA loans.

In June, the 30-year interest rate rose yet again to 4.9 percent, up from 4.84 in May another new high for the Ellie Mae report. The percentage of Adjustable Rate Mortgages (ARMs) rose to 6.9 percent, up from 6.6 percent the previous month.

The time to close all loans rose one day to 42 days. Time to close refinances held at 37 days, and time to close purchases increased to 44 days, up from 43 the month prior.

The closing or pull-through rate rose slightly for all loans types, from 70.2 percent in May to 70.5 percent. Seventy-five percent of loans for home purchase closed successfully, unchanged from May, while refinancing loans had a completion rate of 63.3 percent, down from 65 percent the previous month. Ellie Mae calculates the closing rate from a sample of loan applications initiated 90 days earlier, in this case the March crop.

"While inventories remain tight and interest rates are on the rise, we are still seeing a very robust purchase market with 71 percent of all loans representing home purchases and closing rates at 75 percent on purchase loans," said Jonathan Corr, president and CEO of Ellie Mae. He added he hoped that closing times would begin to shorten in coming months as more lenders start to employ more high-tech mortgage processes.

Ellie Mae mines data from a sample of approximately 80 percent of all mortgage applications that were initiated on its mortgage management system.  The company states its Origination Insight Report is a strong proxy of the underwriting standards employed by lenders across the country.