Calgary is growing by leaps and bounds, and they've got the numbers to prove it.

According to the recently release Calgary Civic Census, Calgary'spopulation has reached 1,120,225 – an increase of 29,289 residents from April 2011. This represents a 2.68 per cent increase in Calgary's population, similar to the level seen in 2007 where population growth was 28,283 or 2.84 per cent. During the first quarter of 2012 alone, an estimated 26,910 people moved to Alberta from other provinces.

Government tightens lending guidelines

With concerns regarding overheated housing markets and household debt levels rising nationwide, the federal government has enacted new rules governing mortgage lending and borrowing.

The biggest change, and the one most likely to have an impact on Canadian homebuyers, is the reduction of the maximum amortization periodfrom 30 years to 25.