Mario and Kat T. immigrated to Canada about five years ago. They took language training, found jobs and, along with their two young children, lived with her parents for years while they saved toward a down payment. Last summer, they were pre-qualified for a mortgage and they started looking for a modest townhome in B.C.’s Fraser Valley. Using a five-year fixed rate, they comfortably qualified for more than $400,000, which enabled them to consider suitable townhomes in reasonable proximity to their work. Unfortunately, due to very limited properties for sale, they did not find their prospective home in time. After the new qualification rules were implemented, their ability to qualify dropped to an absolute maximum of $330,000. That suddenly and drastically stopped them from purchasing a townhome in a suitable area for their family due to a significantly reduced price range. They still need to move out of her parents’ home and are now resigned to finding a place to rent in a tight rental market.