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Jobless workers dealing with poor finances and bad credit were likely encouraged by a U.S. Bureau of Economic Analysis report on Friday that found a sizable increase in the U.S. gross domestic product during the final months of 2009.

According to the BEA, the GDP for the fourth quarter of 2009 increased at an annual rate of 5.7 percent.

The BEA stated that the increase was attributable to a significant amount of positive contributions from private inventory investments, exports, and personal consumption expenditures to offset an increase in imports as well.

The GDP rate, which is the output of goods and services produced by all U.S. labor and property, far surpassed the one taken during Q3 2009 that only measured a 2.2 percent increase.

In a White House blog posting after the release of the data, U.S. Council of Economic Advisors Chair Christina Romer called the GDP report "the most positive news to date on the economy." She added that positive growth would lead to a better job market, but that it would still need help.

"While positive GDP growth is a necessary first step for job growth, our focus must remain on getting Americans back to work," she said. "The President is announcing today the specifics of his plan for a small business jobs and wages tax cut. This policy is designed to encourage businesses to respond to rising demand and output by taking the plunge and hiring new workers again."

Along with the help of a number of local non-profit organizations, the National Urban League, National Council of La Raza, and HomeFree USA, Freddie Mac will open Borrower Help Centers in Chicago, Phoenix, Washington D.C., and San Bernardino.

The centers will utilize a "holistic"approach to address the problems facing borrowers who have fallen into delinquency on their mortgage payments. Much attention during the sessions will be paid towards figuring out the credit and financial problems that are preventing one from staying on schedule with their payments and would continue to do so after a modification.

By offering the services in a walk-in center, Freddie Mac hopes to draw in those who are delinquent on their mortgage payments but are either confused or scared about taking initial steps to rectify the problem.

“The National Urban League looks forward to working with Freddie Mac on this important project as we collectively seek to test enhancements to the home retention continuum that prioritize client counseling…" said Marc H. Morial, President & CEO of the National Urban League. "The Borrower Help Network is a critical response to the housing crisis and its design is clearly linked to comprehensive and sustainable neighborhood stabilization, which remains the ultimate objective."

All counselors at the centers will be trained to review Freddie Mac and Making Home Affordable requirements, as well as provide advice about the methods to go about applying for a modification while supplying them with any paperwork that may have gone missing as well.

Bankrate’s latest weekly national survey released Thursday found that all mortgage rates declined for the fourth straight week, likely pleasing homeowners looking to refinance their home in order to cut costs and consolidate debt.

Short-term rates had the best overall week, as the average rate for 5/1 adjustable-rate mortgages declined by 0.09 percentage points to 4.54 percent for the biggest drop-off. It was the only rate decline that exceeded its figure, a 0.06 percentage point decline, from one week earlier as well.

Thirty-year fixed-rate mortgages’ average rate fell 0.03 percentage points to hit 5.13 percent. One week earlier the rate had seen a more substantial drop of 0.08 percentage points.

Fifteen-year FRMs declined by 0.02 percentage points as well to hit 4.54 percent for the week. The week prior the average rate had fallen by 0.06 percentage points .

Bankrate also found that while mortgage rates have benefitted from consecutive weeks of decline since the beginning of 2010, experts did not expect the trend to last much longer. According to the Rate Trend Index, which compiles expert predictions on how mortgages will fare in the next week, half of experts forecast that rates would rise. Twenty-nine percent said mortgage rates would likely remain stable, while 21 percent expected more declines.

A recent study conducted for Union Bank and the American Heart Association by Harris Interactive has found that consumers in debt consolidation also worry about their health taking a hit as well.

According to the survey, which was released in December 2009, 90 percent of consumers saw a link between a negative turn in one’s health and financial troubles they may be suffering from as well.

Among the biggest population segments who felt poor finances led to poor health were women (91 percent) and adults over the age of 45 (92 percent). Additionally, the survey found that while 55 percent of those between the ages of 18 and 34 rated financial fitness a higher priority in 2010, 70 percent of those above the age of 55 rated physical fitness as a priority.

"Sound financial planning and good physical fitness can make a huge impact on your overall health, so make sure to include both on your list of resolutions," said Union Bank Executive Vice President Pierre Habis. "Develop detailed questions to share with your financial planner and physician and schedule an appointment with both."

In order to avoid financial trouble, Habis added that knowing your net worth and gathering some form of estimate on retirement needs for the future were among the ways consumers could keep financially fit.

Bank of America and Merrill Lynch Wealth Management have announced a new campaign designed to help consumers improve their finances and consolidate debt as they begin planning for their retirement.

Beginning today and lasting until the end of April, the bank will run their "help2retire______" campaign for consumers looking to help people "illustrate [their] evolving retirement priorities and personal aspirations."

Working with Merrill Lynch Financial Advisors, those who want to plan for their financial future while putting an end to working and personal financial trends that are draining their current savings plan.

The initiative for the campaign was born out of an Affluent Insights Quarterly survey released earlier this month by Merrill Lynch that found 51 percent of respondents who were retired said they would have focused more on "life goals" and less on "the numbers" when setting up their retirement fund.

"Our latest research further shows how the recession has led to a renewed focus on core values that guide individuals in their retirement planning, such as family and friends, philanthropic endeavors and basic quality of life, health and wellness issues," said Claire Huang, head of marketing for Bank of America Global Wealth Management, Global Banking and Global Markets.

The survey also found that 38 percent of retirees said they wished they had planned their retirement money to allow them to live a comfortable lifestyle instead of one that would only sustain them.

Mortgages fell for the third straight week of as all long-term rates found their way back under the 5 percent threshold for the first time in weeks, pleasing homeowners looking to consolidate debt through a refinanced mortgage.

For the second straight week, the average rate for 15-year fixed-rate mortgages declined by 0.05 percentage points to hit 4.40 percent. The figure represented the third straight week the rate had declined, and was notably lower than the 4.80 percent rate it had stood at one year earlier.

The average rate for 30-year FRMs declined for the third straight week as well, declining 0.07 percentage points to fall under the 5 percent threshold to hit 4.99 percent for the week. The rate was slightly lower than the 5.06 percent it had been documented at one year earlier.

"Fixed mortgage rates followed bond yields lower for the third consecutive week, pushing 30-year mortgages below 5 percent once more," said Frank Nothaft, Freddie Mac’s vice president and chief economist. "Similarly, [adjustable-rate mortgage] rates eased along with shorter-term rates, as the federal funds futures market indicates no increase in the Federal Reserve’s target rate following its upcoming committee meeting on January 26 and 27."

The survey also found that short-term one-year adjustable-rate mortgages had declined as well, dropping 0.07 percentage points to hit 4.32 percent. The average rate for 5-year ARMs fell as well by 0.05 percentage points to hit 4.27 percent.

Mortgage rates continued to fall to ideal levels that complement the current homebuyer tax credits, as all major types of mortgages saw a decrease for the week ending January 17, according to the Zillow Mortgage Rate Monitor.

Average interest rates for 15-year fixed rate mortgages saw a sizable decline of 0.08 percentage points for the week, falling to 4.33 percent. The decline surpassed the 0.07 percentage point drop seen one week earlier to end a streak of sizable rate declines that had occurred throughout December 2009.

Likewise, average rates for 30-year FRMs declined as well, falling 0.05 percentage points to remain under 5 percent at 4.94 percent. The decline also followed up a 0.06 percentage point decline that had ended a streak of four weeks that had seen rate increases.

Average rates for 5-1 adjustable-rate mortgages saw the steepest decline of the week, shedding 0.13 percentage points to fall under 4 percent to 3.93 percent for the week. The prior week the shorter-term rates had seen a 0.09 percentage point decline.

Despite the drop in rates, the volume of mortgage requests remained about the same on a week-to-week basis. Thirty-two percent of all requests were for refinance loans, one percent higher than last week, while purchase loans remained the same at 66 percent.

As the recession toiled on in 2009, many Americans’ financial situations required that they become more frugal in their ways. However, a new survey has found one way in which financial cuts were made was by purchasing used items instead of splurging on new ones.

According to global business-to-business e-commerce company Alibaba.com, the economic downturn in 2009 resulted in a 113 percent increase in the number of searches for used items on the marketplace in November 2009 compared to one year earlier.

Among the most popular per-owned items searched on the website, primarily by entrepreneurs and small businesses, were cars, boats, golf carts, auto parts, and laptops.

"Second-hand products used to be just about worn-out items offered in yard sales. However, the concept is changing and we have found through our platform that the resale sector is escalating at the B2B level," said Sabrina Peng, vice president of Alibaba.com. "Second-hand products are also increasingly significant in online B2B trade as dealers have realized the benefits of sourcing those items online, such as time-efficiency and the broad variety of merchandise."

The company also referenced recent data found by the National Association of Resale and Thrift Shops that found the number of thrift shops and stores that specialize in reselling items has grown by approximately 5 percent annually every year since 2005. There are over 25,000 shops currently open across the country.