JP Morgan Profits Up on Mortgage Surge

Earnings increased 34 percent largely on more home loans

JPMorgan Chase & Co. said third-quarter earnings jumped 34 percent as the largest U.S. bank made more home loans.

Net income was a record $5.71 billion, or $1.40 a share, up from $4.26 billion, or $1.02 a share, a year earlier, the bank reported on Friday. Results for both periods included special items.