Mortgage rates are getting pretty low

[thefed]

I just noticed that i can get a 4% 15 yr fixed on a new purchase at my local bank. Unfortunately, i want to refi which bumps that to 4.875 no cost....i'm at 5.49 so it doesnt help much....plus i dont think they'd WANT to refi me....i pay $400 extra per month as it is so they know im a good payer....might as well keep me at the 5.5...

 

[Fantasm]

If it is a no cost refi, why the heck not?
What if you do pay for closing costs, can you get back to 4%?