Sales Increase Boosts Profit at Toll Bros.

Luxury homebuilder Toll Bros. Inc. said fiscal third-quarter profit rose at the fastest pace in two years as lower mortgage rates fueled sales.

Net income jumped 27% to $68.2 million, or 90 cents a share, in the three months through July from $53.5 million, or 70 cents, in the year-earlier period, the company said.

The average analysts’ forecast was 82 cents a share, based on a poll by Thomson First Call. Toll’s shares fell 12 cents to $29.50 on the NYSE.