CIBC and TD Bank are the latest mortgage lenders to announce their profits for the third quarter and they are following the trend of higher profits. CIBC profits were up 6 per cent from the same period last year to reach $978 million. Meanwhile TD Bank announced a 7.5 per cent rise in profits to $2.3 billion. Both lenders saw stronger performances from their retail businesses including mortgage lending. RBC, BMO and National have also reported strong profits this week and Scotiabank’s results are due Friday.
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