Two years of solid hiring and record-low interest rates are translating into a big rebound for home builders, pushing Lennar easily past profit expectations for the fourth quarter.

The nation’s second-largest home builder recorded net income of $281.6 million, or $1.21 per share, a dime better than Wall Street had been projecting, according to a poll of industry analysts by FactSet. It also topped the $245.3 million, or $1.07 per share, that the company posted a year earlier.