I remember many years ago, accidentally decided to put $10k into a fixed deposits for 5% annually. Think nothing much of it then. Financial Literacy is non-existence especially from a family of below average where investing in stock market is equate to Gambling. If we think 5% will happen again, is highly unlikely, and we will probably be in trouble if indeed it happens.
Interest rates on average has been coming down for the past 40 years. Savers are thoroughly burned. Long term wise, chances are interest rates won't be high even in between there maybe rate fluctuations that confuse investors for a tiny moment in time.
Therefore, any bet of interest rates impacting Reits long term or benefitting banks are likely hallucinations in the long run. Bottom line is how each of this businesses are run. So for opportunists, any news of rate hikes one could benefits from trading due to market sentiment driving respective business sector....