St.George Bank has cut its fixed home loan interest rates again as variable rates become more attractive.

St.George has cut its one, two and three year fixed rates on home loans by 15 basis points, effective immediately, it said on Wednesday.

The new rates will be offered for a limited time to new customers and existing customers switching to a fixed rate, the bank said.

“We’ve actually now cut our fixed home rates seven times since July,” chief executive Rob Chapman said in a statement.

Fixed rates have been falling for months as expectations of a fall in variable rates grew.

The Reserve Bank of Australia has cut the cash rate by 25 basis points at each of its last two monthly meetings, and the futures market is pricing in, or betting on, multiple cuts in the new year.