The Bank of England is attempting to slow down Britain's booming housing market by announcing it will tighten mortgage-lending rules. The Bank's Financial Policy Committee is taking these steps out of concern that a surging housing market may eventually pose a risk to Britain's economy. It decided that it would only allow 15% of new mortgages to be at multiples higher than 4.5 times a borrowers' income. The BOE also requested that lenders enforce stricter tests on whether borrowers would be able to repay their loans at higher interest rates. MNI's Senior Correspondent David Robinson weighs in on what the new regulations really mean for Britain's housing market, economy and the country's monetary policy outlook.