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Consider the following pool of mortgages: 100 mortgages with initial balance of $272,786, interest rate 4.5%, issued for 30 years with monthly payments 50 mortgages

Consider the following pool of mortgages:

  • 100 mortgages with initial balance of $272,786, interest rate 4.5%, issued for 30 years with monthly payments
  • 50 mortgages with initial balance of $337,385, interest rate 2.9%, issued for 15 years with monthly payments

What is the Weighted Average Coupon for this pool at origination? Express your answer as a number rounded to 4 decimal points (e.g. if your answer is 5.112%, write 0.0511).

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