RBC Bank secured 1,175 U.S. mortgages for Canadians in search of the perfect vacation or investment property, helping keep Canadians as the top foreign U.S. homebuyers, the Canadian bank said in a press release.
The Raleigh, N.C. bank also enabled 200,000 clients to easily access and manage their funds while in the U.S.
According to a survey of the bank’s clients, 54% of clients who responded have been traveling to the U.S. for over 11 years and 59% own property in the U.S.
Despite continuous fluctuations in both the Canadian dollar and U.S. real estate market, securing a mortgage is still a cost-effective option for buyers looking to avoid the high foreign exchange rates associated with all-cash purchases.
“We’re proud of the relationships we’ve built with more than 200,000 clients by offering our expertise and unique insights into cross-border financial management,” said Kristen Doherty, vice president of sales, marketing and communications at RBC Bank. “Many of our U.S.-based senior relationship managers are dual citizens who truly understand the priorities and concerns of Canadians living and buying real estate in the U.S.”