Error Message/Cant Log In

Hi, I just got my hosted WP set up yesterday. WP is installed and it was fine yesterday. I was in my control panel and getting familiar with it all.

I just tried to log in (myblogname.net/wp-admin/) and I get this error message (after a significant amount of loading time):

500 (Internal Server) Error
…that we’re working furiously to correct. Things will be up and running again soon. Thanks for your patience.

Is this a WordPress issue or is it with my host?

I have the latest edition of WP installed BTW.

Thank you for any help/advice you can offer me. I am brand new to hosted WP/WP in general 🙂