Best money market account rates today, February 12, 2026 (earn up to 4.1% 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 0.56%, but top rates can exceed 4% APY, comparable to high-yield savings accounts [3][9]. - Some banks are offering MMA rates above 4%, although rates above 4.5% are rare [9][10]. 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 has since implemented three rate cuts, bringing the current rate to 3.50%–3.75% [4][5]. - The decline in deposit account rates suggests that savers may have limited time to take advantage of higher MMA rates [5]. Group 3: Considerations for MMA - Money market accounts provide liquidity and easy access to funds, making them suitable for those with short-term savings goals or emergency funds [8]. - They are appealing to conservative savers due to FDIC insurance, which protects principal, but may not be ideal for long-term savings goals that require higher returns [8].