The weaker Canadian dollar means fewer Canadians are looking to buy US homes in favour of renting.

Data from real estate site show that Canadians still make up the largest proportion of international searchers on the site (13.8 per cent) but are down by 3 percentage points.

The figures for Canadian searches for homes to buy was down 11.2 per cent in the three months to May 1, 2016 compared to a year earlier while searches for rentals increased by 11 per cent.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: