Local Economist, Ayca Koru states:

 

"The Feds did not increase the rates yesterday, they’ll keep it low for a while (not for long though). Nevertheless, they will start reducing their support in mortgage backed securities immediately, which is expected to increase the mortgage costs for private lenders. In short, rational buyers will not linger expecting higher interest rates and mortgage costs".

If you are lingering, don't wait much longer.  You can buy 10% less home with each 1% rise in interest rate in the $250,000 range.  That means your payment will be the same but now you only can buy a $225,000 home.  This is important to buyers as well as investors.