The theoretical basis of self-mixing interference (SMI) employing a resonant phase modulator is explored to prove its tempting advantages. The adopted method induces a pure phase carrier without increasing system complexity. A simple time-domain signal process is used to estimate modulation depth and precisely track vibrating trail, which promises the flexibility of measuring ultrasonic vibration regardless of the constraint of the Bessel functions. The broad bandwidth, low speckle noise, compact, safe, and easy operating SMI system obtains the best resolution of a poor reflection environment. Numerical simulation discusses the spectrum broadening and errors due to multiple reflections. Experimental results agree with theory coherently and are compared with laser Doppler vibration meter showing a dynamical error better than 20 nm in ultrasonic vibration measurement.