Best money market account rates today, October 19, 2025 (best account provides 4.26% APY)

Core Insights - The Federal Reserve has cut its target rate three times in 2024 and recently made its first cut in 2025, leading to a decline in deposit rates, including money market account (MMA) rates [1] - The national average MMA rate is currently at 0.59%, but some top accounts are offering rates of 4% APY and higher, prompting a recommendation to open accounts to take advantage of these rates [2] - Interest earned from a money market account is determined by the annual percentage rate (APY), which reflects total earnings after one year, considering the base interest rate and compounding frequency [3] Summary of Money Market Account Rates - The average MMA rate is 0.59%, while high-yield accounts can offer rates of 4% APY or more, indicating a significant opportunity for higher earnings [2] - For a $1,000 deposit at 0.59% APY with daily compounding, the balance after one year would be $1,005.92, whereas a 4% APY would grow the balance to $1,040.81, showcasing the impact of higher rates on earnings [4] - A $10,000 deposit in a 4% APY MMA would yield a total balance of $10,408.08 after one year, resulting in $408.08 in interest, further emphasizing the benefits of higher deposit amounts [5]