These are today's mortgage and refinance rates. Mortgage rates have increased in recent days in response to September's blockbuster jobs report.

The current median interest rate is 6.49% for a 30-year fixed-rate mortgage and 5.63% for a 15-year fixed-rate mortgage.

Now hovering just over 6%, many prospective buyers may be wondering about the potential for that rate to fall even further (and by how much). While there are ways for buyers to secure a rate below 6% now, it could fall independently this October. But how far, exactly, will mortgage rates fall next month? That's what we'll break down below.

Forbes Advisor Canada reviews Tangerine Bank’s rates and products to help you decide if these are a good choice for your mortgage.

The rate ticked up from 6.08% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.49%. Last week, the average rate slipped to its lowest level in two years, boosting home shoppers’ purchasing power as they navigate a housing market with prices near all-time highs.