Matthew D. lives in Mount Pearl N.L. and has been saving for a down payment for several years to purchase his first home. Matthew was expecting to purchase a property for $250,000. He qualified for a mortgage in that price range in May 2016. Unable to find a property during the summer that fit his price range, he continued to look until the fall. After government changes to mortgage rules were put in place, Matthew’s chances of finding a perfect place took a big dive because he’s now seeking a property with a $230,000 price tag. It’s very difficult to find something suitable in the St. John’s/Mount Pearl area at that price range.