"Stuck" in my 2.75% mortgage

I can't be the only one with this problem and wondering what others may have done.

We bought our starter home and were able to secure a 2.75% rate. We're now looking at upgrading but the jump in rate totally destroys our mortgage payment.

I've considered renting my primary as the cashflow would cover our mortgage and expenses and leave a nice amount of additional income, but that means I can't utilize any of my equity into buying a new home.

We don't need to move, but we are seeing our are filling up and if we don't upgrade now it may be harder later.