Summary: Money market account rates offer up to 4.41% APY, although they are declining slightly

From Yahoo Finance: 2025-05-12 06:00:00

Money market accounts (MMAs) offer high interest rates and liquidity. Despite falling rates, some MMAs still offer over 4% APY. Rates fluctuated due to Federal Reserve changes post-2008 crisis. In 2022, rates surged, but by late 2023, the Fed cut rates. As of 2025, rates remain high but are declining. It’s crucial to compare MMAs beyond rates for fees and restrictions. Ensure FDIC or NCUA insurance up to $250,000. The national average MMA rate is 0.64%, but top rates reach 4%-4.5% APY, similar to high-yield savings accounts. Earnings on $50,000 in an MMA paying 4.5% APY could yield $2,303 in one year. No MMAs offer 5% APY, but some online banks do. Check with local banks or credit unions for competitive rates.



Read more at Yahoo Finance: Best money market account rates today, May 12, 2025 (Earn up to 4.41% APY)