Taylor-Winfield’s flash-weld program

Taylor-Winfield’s flash-weld program

YOUNGSTOWN

Taylor-Winfield Technologies, 3200 Innovation Place, a Youngstown-based metalworking-machinery company, introduced a new process to flash-weld advanced high-strength steel, or AHSS, at an industry convention in Chicago last month.

Mike Prokop, the company’s assistant chief engineer, spoke about Taylor-Winfield’s new flash-welding program, which includes new techniques for coil-joining AHSS automotive-grade materials, machine upgrades and its patented Force Freeze welding process.

In a statement, the company said the new program can be added to any existing flash-welding machine by a controls upgrade.

Mortgage rates rise

WASHINGTON

Average U.S. rates for fixed mortgages crept higher last week but remained low by historical standards.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan increased to 4.48 percent from 4.47 percent last week. The average on the 15-year fixed loan rose to 3.52 percent from 3.51 percent.

Mortgage rates peaked at 4.6 percent in August on expectations that the Federal Reserve would reduce its $85 billion-a-month in bond purchases. Those purchases push mortgage and other long-term rates lower and encourage borrowing and spending. On Dec. 18, the Fed finally decided the economy was strong enough to allow it to reduce the monthly purchases by $10 billion.

Mortgage rates are sharply higher than they were a year ago when the 30-year fixed rate was 3.35 percent and the 15-year was 2.65 percent.

Vindicator staff/wire reports