My strategy is pretty simple in times like this when the rates might go down for a little while (cf. recession): I keep doing no-cost refis as soon as I can get a .25% lower rate (I might even pounce for .125% but it is a bit time consuming so I usually don’t).
Note that the no-cost refis usually carry a .25% interest rate premium over the regular refis to cover the commissions and closing costs. That said, the strategy stills guarantees you a pretty close-to-the-bottom interest rate with no extra cost involved (besides the time spent).
