There are many ways that house markets and bond markets are different. Bonds work on a hair trigger, traded in huge blocks on international markets.
Bond markets anticipate future rate rises, as they are doing now.
The house market, where units are traded one by one, mostly by amateurs, is slower to react.
The Trump administration will probably launch a local infra-structure construction program to boost local incomes. No matter how this is funded, the large amount of money needed (a trillion dollars?) will result in higher interest rates.
Analysts have said the steps taken by the federal government this year to cool the housing market would raise costs for banks and mortgage insurers — which would most likely be passed on to customers in the form of higher mortgage rates.
With bonds coming off their biggest bull market in history, all of this has traders urgently selling before their profits evaporate. As bond prices fall, U.S. rates are surging, and they could keep climbing longer-term.