3. a. Earlier this year you were looking for a home and decided you could afford a mortgage payment of $1100 per month. At that time interest rates on 30 year mortgages were 3.75% compounded monthly. How big of a loan could you afford? b. Recently the Fed increased interest rates so now a 30 year mortgage is 5.31% compounded monthly. If you still can only afford a $1100 per month payment, how big of a loan could you now afford? C. Based on your answers what do you think will happen to the housing market