Interest rates for money market accounts have been steadily decreasing, making it crucial to compare rates to maximize earnings. The national average money market rate currently sits at 0.56%, a significant increase from four years ago. Despite this, some top accounts offer over 4% APY, making it a good time to open an account. The amount of interest earned depends on the annual percentage rate (APY) and compounding frequency. While 7% interest rates are rare, some local banks may offer promotional rates at this level. Consider opening a money market account now to take advantage of high rates.

Read more at Yahoo Finance: Best money market account rates today, February 14, 2026 (best account provides 4.01% APY)