Summary: Money market account rates fluctuating due to Fed interest rate changes, currently decreasing.

From Yahoo Finance: 2025-05-19 06:00:00

Looking for the top bank rates for money market accounts (MMAs)? MMAs offer high interest rates, liquidity, and flexibility. Despite falling rates, you can still find MMAs paying over 4% APY. Compare rates from online banks and credit unions for the best returns on your savings.

Money market account rates have fluctuated due to the Fed’s interest rate changes. Rates were low after the 2008 crisis, but rose as the economy improved. In 2020, rates dropped due to the pandemic but rebounded in 2022. By late 2023, rates hit 4% before the Fed cut rates in late 2024.

As of 2025, MMA rates are decreasing after the Fed’s recent cuts. It’s crucial to consider factors beyond rates, like minimum balances and fees. Shop around for accounts with competitive rates and no restrictions to maximize your savings potential.

Ensure your chosen account is FDIC or NCUA insured for up to $250,000 per depositor. Most MMAs offer similar rates to high-yield savings accounts, with top rates at around 4% to 4.50% APY. Compare accounts to find the best fit for your financial goals.

Earning on $50,000 in an MMA depends on the APY and time period. A 4.5% APY would earn $2,303 in one year. While no MMAs offer 5% APY, some online banks do for high-yield savings accounts. Check with local banks or credit unions for options that meet your needs.

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