When I renewed, fixed rates were at 3.34% vs prime -1.5%.
Prime needs to go to 4.84% (basically 5%) to just get to them being equal. 5% prime would fiscally demolish 90% of Canadians, unfortunately the Bank of Canada may indeed be as fucking stupid as Trudeau is.
ES has a very good point in that variable comes with 3 months interest penalty vs a holy buttfucking on fixed. In my case, buttfucking averted (sorry Toilet) because I am likely selling my condo next month.