Real estate has been having a decent 2024. The S&P 500 Real Estate Select Sector SPDR (ARCA:XLRE) has advanced 11.1% year to date as of Sept. 4. The sector declined till the end of June. However, optimism about the Fed introducing rate cuts in the economy and falling mortgage rates seem to have triggered a turnaround. Buoyed by signals from the Fed, the benchmark 30-year average mortgage rate fell to 6.5% late last week, its lowest level since May 2023. The 30-year fixed-rate mortgage fell further on Aug. 30 to 6.37%. The National Association of Realtors (“NAR”) expects the 30-year fixed mortg…