What is the average money market rate?

Current Money Market RatesThe current average money market rate is 0.59%, while the highest rate is up to 5.12%.Here are today’s money market account rates: Average APY: 0.59% Highest Rate: 5.12%Source: Curinos. Data accurate as of April 23, 2024. Rates...

How do you score a high yield on a money market account?

Scoring a high yield may require opening an account at another bank: To earn a leading rate on a money market account, you'll need to shop around. And the odds are high that scoring a top rate will require opening a money market account at a bank different than where you already have a checking and savings account.

What is the average APY for a money market account?

The money market account national average APY is at 0.47 percent as of May 8, 2024, according to Bankrate’s most recent survey of banks. Top money market account yields – generally at FDIC-insured online banks – are more than 11 times this. The Federal Reserve is forecasting three possible rate cuts in 2024.