The 30-year fixed mortgage rate just hit 8% for the first time since 2000 as Treasury yields soar

this week and last week, as investors digest more reads on the economy. On Wednesday it was housing starts, which rose in September, though not as much as expected, according to the U.S. Census.

"Here's another milestone that seemed extreme several short months ago," said Matthew Graham, chief operating officer of Mortgage News Daily. "The fact is that many borrowers have already seen rates over 8%. That said, many borrowers are still seeing rates in the 7s due to buydowns and discount points."

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