The Fed’s decision to hold US interest rates steady at near zero Thursday is good news for Canadians with a long-term mortgage. With mortgage rates for home loans with longer terms affected by US bonds, which are tied to US interest rates, any increase will begin to have an effect down the line. Shorter-term mortgage rates often follow the trend. However it is still possible that there will be an increase of 25 basis points in the Fed’s rate this year with a full 1 per cent added in 2016, making this month’s freeze just a temporary reprieve.