"The Vice Capital Par Note Rate is designed to complement those views by offering a consistent, market-based benchmark for analyzing mortgage rate movement over time. Vice Capital has used the par note rate internally in its hedge models for decades. By making the data public, the firm aims to support more transparent and granular analysis of mortgage rate movements across the industry."
"Calculated each business day using Fannie Mae and Freddie Mac MBS prices across the coupon stack, plus standard base guaranty fees and servicing, the Vice Capital Par Note Rate reflects the note rate at which a 30-year fixed-rate loan could be sold at par into the agency market while retaining servicing."
"Unlike rate measures based on locked loans or consumer offers, the Vice Capital benchmark is grounded in secondary market execution rather than borrower-specific pricing, such as discount points, lender credits or loan-level price adjustments."
Vice Capital Markets introduced the Vice Capital Par Note Rate, a daily mortgage rate benchmark calculated from Fannie Mae and Freddie Mac MBS prices. The benchmark reflects the note rate at which a 30-year fixed-rate loan could be sold at par in the agency market while retaining servicing. Unlike rate measures based on locked loans or consumer offers, this benchmark is grounded in secondary market execution rather than borrower-specific pricing adjustments. The online tracker provides daily data, long-term trend analysis, and custom charting with historical data back to 2008. Vice Capital designed this benchmark to complement existing mortgage rate metrics by offering a consistent, market-based view for analyzing mortgage rate movements across the industry.
Read at www.housingwire.com
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