Want to earn money on your savings? Money market accounts (MMAs) might be a good choice! They're like savings accounts, but sometimes you can use a debit card or write checks. Interest rates are changing, so it's important to understand what's happening.
- MMAs offer interest on your money, similar to a savings account.
- Rates are linked to what banks charge each other for loans.
- Recently, interest rates have been going down.
- This could be a last chance to earn high interest.
| Fact | Number |
|---|---|
| National average MMA rate | 0.64% |
| Top MMA rate | 4.75% |
| Fed rate cuts (in 2024) | 75 basis points |
