A year ago in September I purchased a house with a interest only loan of 6.75% and 10% down on 175K (see below

I was just curious was this a bad move. A year has passed since. When we purchased this house I was making very little money (less then 30K a year). Now I'm making 45K. Our monthly payment is around 857 a month.... I was just curious does anyone know any info regarding refinancing. Is it worth it. I was told my interest rate is not that bad. I was also told refin is not worth it if you are going to be there less then 5 yrs...