i think in anticipation of rate hike later this year (which increases yield of TBond),
makes TBond price drop. Also rate hike will make mortgage rate higher,in turn it will negatively affect real estate as borrowing cost will be higher.
我看第三遍的时候看懂了,前面半句应该是10-30yr Treasury YIELD increase, so fixed rate of 15/30yr Mortgage, which will increase fixed cost of Real Estate, reduce the margin of real estate investment, housing price will further down and housing is becoming less attractive. 后面半句是对的。