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Mortgage industry participants are anticipating brisk refinancing activity during the first half of 2015 as a result of a 50 basis point cut in FHA’s annual mortgage insurance premium and expectations that mortgage rates will remain low. Lenders believe that with mortgage rates lingering around 3.75 percent, coupled with the annual MIP rate cut, an estimated one million mortgage loans could be ripe for FHA refinancing. “There’s real business out there,” said Brian Chappelle, a mortgage industry consultant. “Some economists also anticipate another 100,000 in purchase originations this year as a result.” The premium cut makes...