Best money market account rates today, November 2, 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 now to benefit from these rates [2] Money Market Account Rates - The national average money market account rate is 0.59% as reported by the FDIC [2] - Some of the best MMA rates available today exceed 4% APY, indicating a significant opportunity for higher earnings [2] Interest Earnings - Interest earned from a money market account is determined by the annual percentage rate (APY), which accounts for the base interest rate and compounding frequency, typically daily for MMAs [3] - A $1,000 deposit at the average rate of 0.59% would yield a total of $1,005.92 after one year, while a 4% APY account would grow to $1,040.81, resulting in $40.81 in interest [4] Impact of Deposit Amount - The potential earnings increase with larger deposits; for example, a $10,000 deposit in a 4% APY account would result in a total balance of $10,408.08 after one year, earning $408.08 in interest [5]