Best money market account rates today, September 17, 2025 (secure up to 4.41% APY)

Core Insights - The article discusses the current state of money market account (MMA) rates, highlighting the importance of finding competitive rates as interest rates decline following recent Federal Reserve cuts [1][4]. Group 1: Current MMA Rates - The national average interest rate for money market accounts is 0.59%, while top rates can exceed 4% APY, comparable to high-yield savings accounts [2]. - TotalBank currently offers the highest MMA rate at 4.41%, which is over seven times the national average [7]. Group 2: Impact of Federal Reserve Actions - Deposit account rates, including money market rates, are influenced by the federal funds rate set by the Federal Reserve. When the Fed lowers its rate, deposit rates typically decrease [3]. - Between July 2023 and September 2024, the Fed maintained a target range of 5.25%–5.50%, but subsequently cut the federal funds rate by a total of 100 basis points by December 2024, leading to a decline in money market rates [4]. Group 3: Considerations for Savers - Money market accounts are attractive for savers due to their elevated rates, safety, and liquidity, making them suitable for those with short-term savings goals or emergency funds [5][6]. - For conservative savers, money market accounts are appealing as they are FDIC insured and protect principal, although riskier investments may be necessary for long-term savings goals [6].