Best money market account rates today, November 4, 2025 (Earn up to 4.26% APY)

Core Insights - Money market accounts (MMAs) offer higher interest rates compared to traditional savings accounts, providing liquidity and flexibility for long-term savings [1][3] - The national average interest rate for MMAs is currently 0.59%, while the best rates exceed 4% APY, with some accounts offering rates above 5% APY [3][7][13] - Historical fluctuations in MMA rates are closely tied to changes in the Federal Reserve's target interest rate, with significant drops following the 2008 financial crisis and the COVID-19 pandemic [4][5][6] Interest Rate Trends - Following the 2008 financial crisis, MMA rates fell to between 0.10% and 0.50% due to the Fed's near-zero federal funds rate [5] - The Fed's gradual interest rate increases post-recession led to higher MMA yields, but the COVID-19 pandemic caused another decline in rates [6] - Starting in 2022, aggressive interest rate hikes by the Fed resulted in historically high MMA rates, with many accounts offering rates of 4.00% or higher by late 2023 [7] Current Market Conditions - As of now, MMA rates remain high by historical standards but are beginning to decline following recent Fed rate cuts [8] - Online banks and credit unions are currently offering the highest MMA rates [8] Considerations for Choosing MMAs - When selecting an MMA, factors such as minimum balance requirements, fees, and withdrawal limits should be considered alongside interest rates [9][10] - Some MMAs may require a minimum balance of $5,000 or more to earn the highest rates, and monthly maintenance fees can reduce interest earnings [10] - It is crucial to ensure that the chosen account is insured by the FDIC or NCUA, which protects deposits up to $250,000 per institution [11]