Starting with the new update, there will be rare equips added into the game. Not like the Dragon equips, where everyone knows about them and exactly what drops them and where they are, however.
These rare equips will be very difficult to find, about 1/300, which may be changed at any update, depending on how often they pop up in game. The catch is that these equips can be dropped by any monster in a given region, IE Blizzarian monsters may drop a rare weapon. Even the weakest monsters could drop a rare. You never know, and I'm not going to tell you what drops what.
Current rare equips:
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Ragnell: Sword, named from the Medieval Myth
The Wedding of Sir Gawain and Dame Ragnelle, also found as Ike's blessed weapon on Fire Emblem: Path of Radiance and Radiant Dawn
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Siegmund: Sword, named from a Norse mythological hero. Also Ephraim's sacred lance in Fire Emblem: Sacred Stones
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Hauteclare: Staff, named from a sword from the French myth The Song of Roland
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Naidel: Staff, named from a sword wieilded by Prince Joshua from the novel "Memory, Sorrow, and Thorn"
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Amaterasu: Bow, named from the sun goddess Amaterasu in Japanese Mythology.
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Apollo: Bow, named from the sun god Apollo in Greek Mythology.
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Susano-o: Scythe, named after the god of storms in Japanese mythology. This is the only rare weapon without a counterpart.
These rare items will be the first tier of the final sets of equipment you will find in the game. They will generally be named from various myths.
Tiers will be as followed:
Tier 1 (T1): Rare equips
T2: Legendary Dragon equips
T3: Elemental equips
T4: Celestial equips