Well, the Fed raised the federal fund rate .25 surprising absolutely no one. The good news is the market was expecting this, and mortgage rates actually improved slightly.
The Fed also signaled that they intend to continue tightening our monetary policy throughout the year. That means we can expect to see at least two if not three additional .25 increases.
Overall, now will be the best time to purchase homes and to sell homes. Mortgage interest rates will reach 5% this year for 30 year fixed loan. While historically low, and this will reduce purchasing power and particularly first-time homebuyers need to get moving.