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.

Last November, the 30-year mortgage rate approached 8%. After the Federal Reserve cut interest rates on September 18, it’s approaching 6%.

Homebuyers are finally returning to the housing market after the Federal Reserve cut interest rates for the first time in four years.