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Yahoo Finance

Money market account rates today, December 21, 2024 (best account provides 5.00% APY)

Yahoo Finance
Summary
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80% Informative

Between March 2022 and July 2023 , the Federal Reserve raised its benchmark rate 11 times.

As a result, money market account (MMA) interest rates rose sharply.

However, the Fed slashed the federal funds rate by 50 basis points in September , and another 25 basis points in November and December .

It’s more important than ever to compare MMA rates and ensure you earn as much as possible on your balance.

Some of the top accounts are currently offering upwards of 5% APY.