Deposit interest rates, including money market account rates, have been decreasing over the past year. It’s crucial to compare MMA rates to maximize your earnings. The national average money market account rate is currently 0.59%, a significant increase from 0.07% three years ago. Some top accounts offer over 4% APY, so consider opening one now to take advantage of high rates. Your earnings from a money market account depend on the APY, with daily compounding interest. A high-yield MMA could earn you $408.08 in interest on a $10,000 deposit after one year. While no banks offer 7% interest rates on MMAs, some may run promotional rates up to that level on limited balances.

Read more at Yahoo Finance: Best money market account rates today, November 22, 2025 (best account provides 4.26% APY)