Renegotiating fixed close mortgage

[James Ma]

So mortgage rates have dropped substantially from a year ago (3.64% to 2.79% on a 5 year fixed). I have about 4 years left on the 5 year term and I've run the numbers which shows if I can buyout the mortgage, it would be profitable to pay the buyout penalty fees.

Is there any way that I would be able to renegotiate the existing mortgage rate with my current bank or would another bank be willing to essentially "buy out" this mortgage and win my business by replacing it with a lower interest rate mortgage?