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What is the weighted average coupon for pool at origination

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Reference no: EM132826036

Consider the following pool of mortgages:

  • 100 mortgages with initial balance of $270,081, interest rate 2.6%, issued for 30 years with monthly payments
  • 80 mortgages with initial balance of $285,316, interest rate 3.2%, issued for 15 years with monthly payments

What is the Weighted Average Coupon (WAC) for this pool at origination? Express your answer as a rate rounded to 2 decimal points (e.g. if your answer is 5.112%, write 5.11).

Reference no: EM132826036

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