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This article provides the most up-to-date average money market account annual percentage yield, which is 0.49 percent, and insight as to why knowing the average money market account rate is important.
As the Fed rate rises, so do APYs on savings accounts, CDs and money market accounts — with today’s rates on the best high-yield savings accounts topping 4% APY.
Money market accounts are savings accounts that often offer higher interest rates than regular savings accounts and often incorporate checking account features, like easy access to cash. ...
A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money markets. [1] The interest rates paid are generally higher than those of savings accounts and transaction accounts; however, some banks will require higher minimum balances in money market accounts to avoid monthly fees and to earn interest.
The site was founded in 1999 by Clark Schultz and has been frequently cited by major news outlets, including the Wall Street Journal, [1] the New York Times [2] and MSN Money. [3] Site features include its America's Best Rates series, a quarterly survey of bank interest rates, and its annual Best and Worst States for Retirement articles.
The money market is a component of the economy that provides short-term funds. The money market deals in short-term loans, generally for a period of a year or less. As short-term securities became a commodity, the money market became a component of the financial market for assets involved in short-term borrowing, lending, buying and selling with original maturities of one year or less.
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