The Fed announced it earlier in the year, but the Brexit incident kept them from moving forward. This time around, they followed through with their announcement in September.
Today the Fed raised its benchmark interest rate by a .25%, indicating their belief in the strengthening of the US Economy and job growth. This is only the second time in nearly a decade the rate has increased.
In reviewing the announcement today, experts predict the Fed may raise the rates an additional three times in 2017. Rising interest rates will have an impact on the housing market as the cost to borrow will make the overall purchasing of homes a more costly endeavor.