You're looking at the monthly payment and wondering whether it's time to sell. Let's look at the mortgage before you decide. And if you really want to move, you can say that too. A financing change should serve the decision you want to make.
We compare a refinance with keeping the mortgage you have. A lower required payment can come from extending repayment, which may leave more debt when you sell. We include the new costs whether you'd pay them in cash or add them to the balance.
If you're selling, or think you might, we compare what the proposed loan would cost through that likely sale date. Then we look at what happens if you stay longer. Recovering upfront costs through smaller payments is a useful first check. We also compare the mortgage balances that would remain.
If mortgage insurance is the concern, the existing conventional loan may have a cancellation route. Ask the servicer about the actual requirements before paying for a new loan just to remove it.
Buying and Selling at the Same Time covers planning the move. We can work through whether a refinance would help you stay or use money shortly before a sale.
Keeping the loan you have belongs in the comparison. Asking about refinancing doesn't commit you to changing anything.