It all depends on whether or not your mortgage keeps you up at night!
In my opinion, it is still a good option to take a VRM mortgage, even a new mortgage at 3.3%. If you have an existing VRM, at a discounted rate, definitely keep it. I expect the prime rate to remain fairly stable over the next 12 months. In that time, we will see fixed rates continue to fall. There has been a lot of movement lately, and I`m seeing 5 year fixed rates getting to the 4% level, and even slightly below.