re: Is mortgage refinancing worth looking into for me?

Call 3 or 4 local banks and see what they can offer you OP. Roll the cost of refinancing which will be $3,000 or so into the new loan. If you drop 1% in interest you will likely be saving money pretty quickly even with the additional cost of refinancing. As said your house may appraise for more also so you may be able to drop the PMI at the same time.

The only thing that matters is your closing costs and interest rate, most small banks sell your loan anyway.