Key Takeaways
- • Introduced the Vice Capital Par Note Rate, a proprietary daily mortgage rate benchmark aimed at providing a market-based view of mortgage pricing.
- • Calculated daily using Fannie Mae and Freddie Mac mortgage-backed security prices, it reflects the note rate for a 30-year fixed-rate loan sold at par, factoring in servicing and standard fees.
- • Offers lenders, analysts, and market participants data and trend analysis, with historical data accessible back to 2008.
- • Designed to complement existing mortgage measures by emphasizing secondary market pricing instead of borrower-specific characteristics such as discount points.
- • Aimed at independent lenders, banks, and credit unions, enhancing their understanding of mortgage pricing dynamics.
Summary
On May 7, 2026, Vice Capital Markets unveiled the Vice Capital Par Note Rate, a new daily benchmark that intends to reshape insights into mortgage pricing. This proprietary rate delivers a distinct analysis derived from the secondary market, specifically aimed at independent lenders, banks, and credit unions. By utilizing the prices of Fannie Mae and Freddie Mac mortgage-backed securities, the Vice Capital Par Note Rate calculates a baseline at which a 30-year fixed-rate mortgage can be sold at par while retaining servicing agreements, considering standardized guaranty fees and servicing costs.
The Vice Capital Par Note Rate is designed to provide a more nuanced perspective compared to existing mortgage rate measures. Its primary goal is to inform market participants about current trends in mortgage pricing without the complexity of borrower-specific transaction data, such as discount points or lender credits. By focusing on market conditions and security prices, it seeks to enhance transparency and decision-making capabilities in mortgage financing.
The benchmark is accessible via an online platform, offering not only daily updates but also long-term trend analyses and custom charting features going back to 2008. This level of information availability is particularly valuable for analysts and lenders who need to track fluctuations and insights over extended periods.
Overall, the introduction of the Vice Capital Par Note Rate demonstrates a strategic initiative to enrich the mortgage industry’s understanding and response to market dynamics, potentially influencing pricing strategies across the board.
The Vice Capital Par Note Rate is designed to provide a more nuanced perspective compared to existing mortgage rate measures. Its primary goal is to inform market participants about current trends in mortgage pricing without the complexity of borrower-specific transaction data, such as discount points or lender credits. By focusing on market conditions and security prices, it seeks to enhance transparency and decision-making capabilities in mortgage financing.
The benchmark is accessible via an online platform, offering not only daily updates but also long-term trend analyses and custom charting features going back to 2008. This level of information availability is particularly valuable for analysts and lenders who need to track fluctuations and insights over extended periods.
Overall, the introduction of the Vice Capital Par Note Rate demonstrates a strategic initiative to enrich the mortgage industry’s understanding and response to market dynamics, potentially influencing pricing strategies across the board.
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