ING Direct has an interesting product, the Easy Orange mortgage: ING DIRECT USA - Frequently Asked Questions
This mortgage is currently at 4.25% for 5 years. It is a biweekly payment schedule and only offered for 75% max LTV with no HELOCs. The wrinkle is that at the end of the 5 years you either have to refi, pay it off or pay $750 to lock for another 5 years. You can also float down and lock for 5 more years any time you like for $750.
It doesn't work for me given the possibility that rates could go to infinity at the end of 5 years (and I like the option of a HELOC), but it might for someone. And the rate is about as liow as I have seen for a no-point mortgage.