Best money market account rates today, November 6, 2025 (earn up to 4.26% APY)

Core Insights - The article discusses the current state of money market accounts (MMAs) and highlights the importance of earning competitive rates on savings as interest rates decline following recent Federal Reserve rate cuts [1][5]. Group 1: Current MMA Rates - The national average interest rate for money market accounts is 0.59%, but top rates can exceed 4% APY, comparable to high-yield savings accounts [3][8]. - Some banks are offering MMA rates above 4.50%, although rates above 7% are rare and typically found in limited-time promotions on checking accounts [8][9]. Group 2: Federal Reserve Rate Cuts - The Federal Reserve maintained a target range for the federal funds rate of 5.25%–5.50% from July 2023 to September 2024, but cut the rate by 50 basis points in September 2024 and further by 25 basis points in November and December [4]. - As of 2025, the federal funds rate stands at 3.75%–4.00%, leading to a decline in deposit account rates [5]. Group 3: Considerations for MMA - Money market accounts provide easy access to funds with check-writing capabilities or debit card access, making them suitable for those needing liquidity while earning better returns than traditional savings accounts [6][7]. - They are appealing for conservative savers due to FDIC insurance and principal protection, but may not be ideal for long-term savings goals that require riskier investments for higher returns [7].