<ul><li>The current average money market rate is 0.53%, with the highest rate reaching 4.89% according to Curinos.</li><li>Money market accounts (MMAs) are interest-bearing deposit accounts provided by banks and credit unions, operating similarly to savings accounts.</li><li>MMAs generally offer higher interest rates compared to traditional savings accounts and may provide debit cards or check-writing capabilities for easier access to funds.</li><li>MMAs at banks are FDIC-insured, while those at credit unions are insured by the NCUA with coverage up to $250,000 per account type, safeguarding depositor's funds in case of bank failure.</li></ul>

Money Market Interest Rates Today: May 9, 2025 – Rates At 4.89%

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