Toll Brothers Deposits Rise on Higher Loan Rates, Chairman Says

Toll Brothers Inc., the largest U.S. luxury-home builder, saw deposits increase 10 percent compared with a year earlier in the past two weeks as mortgage rates began to rise, Chairman Robert Toll said.

“In the last two weeks, interest rates have been going up,” Toll said today during the company’s earnings call. “So finally there is no longer a reason to sit and wait.”