With interest rates falling, it’s crucial to find the best MMA rates. Historically, MMAs offered high rates, with top rates exceeding 4% APY. The Fed’s recent rate cuts have impacted deposit account rates, making now a good time to take advantage of higher rates before they decline further.

The Fed made six rate cuts between 2023 and 2025, reducing the federal funds rate to 3.50% – 3.75%. As rates continue to drop, savers may want to consider MMAs, which offer competitive rates and easy access to funds. However, the decision to invest in an MMA should align with your financial goals and risk tolerance.

MMAs are a great option for short-term savings goals or emergency funds, offering safety and better returns than traditional savings accounts. They are also ideal for conservative savers who prefer stable investments backed by FDIC insurance. However, long-term savers may need riskier investments for higher returns.

While national MMA rates average 0.56%, some banks offer rates above 4% APY. It’s unlikely to find rates exceeding 4.5%. Promotions offering 7% interest are limited-time and typically on checking accounts, not MMAs. Currently, no MMAs offer 7% interest. Comparing rates from different institutions will help find the best options available.

Read more at Yahoo Finance: Best money market account rates today, January 29, 2026 (earn up to 4.1% APY)