Well, that didn’t very long, did it? Like in one day? You read here just yesterday that new Fed Chair Janet Yellen laid out a rather specific time frame when the Fed would begin to raise rates. According to her previous statement, the Fed could start raising the Fed Funds and Discount Rate somewhererates low after all around March or April 2015.

Looks like real estate investors looking to build a new rental property or find an existing piece of real estate to rehabilitate will have to wait a little longer for higher financing costs.

The quantitative easing round two program, commonly referred to its shorter acronym QEII, has been around in various formats since 2009 to stimulate the U.S. economy. The new and improved version, QEII had been scooping up mortgage bonds and U.S. Treasuries to the tune of $85 billion per month until the tapering began last December. The Fed announced that at each FOMC meeting, they’re about six weeks apart, the QEII program will be reduced by another $10B until the effort ends completely. At that rate, QEII would be no more around October and six months after that is March/April.

Rates of all sorts took that news personally and both long and short term debt took a slight hit. It’s a possibility that Yellen didn’t realize the announcement of the beginning of the end would startle so many investors but it did. So she made another announcement late Monday, March 31, that seemed to erase the six month timeline saying instead that the Fed will “maintain its extraordinary economic support for quite some time.” That means longer than six months if necessary. Or not.

Yellen has been making the rounds as of late on her first real “speaking tour” and it appears she’s yet to learn how to speak off the cuff instead of from a teleprompter, keeping markets relatively calm. We’ll see. The bet here is that we’re likely in for a few more jolts.