Between March 2022 and July 2023, the Federal Reserve raised its benchmark rate 11 times, causing money market account (MMA) rates to rise. However, recent rate cuts have led to a decline in deposit rates. Now, comparing MMA rates is crucial to maximize earnings. Currently, the national average MMA rate is 0.60%, but some accounts offer over 5% APY. Investing in high-yield accounts can significantly increase your earnings—$1,000 at 5% APY grows to $1,051.27 in a year. Seize the opportunity before rates drop further.
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Question: Have you considered switching to a high-yield money market account to boost your savings?
