Both ^redacted‌ and ^redacted‌ make good points. The market is pricing in several rates cuts over the nextredactedmonths so, unless you are picking up significant interest rate relief through your fixed rate quotes; floating is likely the way to go right now. If you are going to pick up some interest rate relief by getting fixed rate quotes (say 10% fixed vs Prime +2.5% floating) you may see about short term fixed, say 1-year or 3-year fixed, 9-year or 7-year float pricing to pick up immediate interest rate relief, but allow yourself the upside of rates falling over time. Overall, it's up to you and how the rates fit into your business plan.‌

You can always pay down the loan early. If the numbers work, then take the variable rate if you think rates will go down. That being said, if you can get a fixed rate at 5% or something crazy like that...take it and run!