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Brian McKay

Brian McKay

Co-Founder & Lead Data Architect

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Brian is the Co-Founder of MonitorBankRates.com. For over 18 years, he has utilized his background in enterprise infrastructure to engineer proprietary systems that track rates from over 8,000 financial institutions.

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| August 18, 2026 | 5 min read

Money Market Rates Rise in Every Category; Jumbo Accounts Cross 2.00%

Money market rates rose in all five categories we track since our July 27 report. High-yield money market rates reached 3.052%, the highest liquid deposit average on the site, and jumbo money market rates climbed past the 2.00% line for the first time in our summer reports.

Since our July 27 report, average money market rates rose in every one of the five account categories we track, something neither savings accounts nor CDs managed this week. The average for high-yield money market accounts edged up 0.018 points to 3.052%, and jumbo money market rates climbed 0.146 points to 2.004%, their second strong gain in a row. Even standard money market rates, the broad category that barely moves, rose 0.053 points to 0.757%. For anyone keeping cash liquid, this was the friendliest report of the week.

Every money market category moved higher

Money market rates by account category, national average APY since late March

Average APYs from MonitorBankRates.com's nightly collection, the same series this report's figures come from, updated daily.

High-yield money market rates added 0.018 points to reach 3.052%, the highest average of any liquid deposit account we track, money market or savings. Credit union money market rates rose 0.025 points to 1.312%, and business money market rates inched up 0.002 points to 1.087%, their fourth gain in a row going back to early July. The surprise was standard money market rates: the broad category that had barely moved all summer rose 0.053 points to 0.757%, its largest move in our recent reports. The ranking across the five categories didn't change.

Jumbo money market rates cross 2.00%

Jumbo money market rates climbed 0.146 points to 2.004%. In our July 27 report this category jumped 0.150 points, and we cautioned that its small group of reporting institutions, about 115 today, makes single moves unreliable. Two strong gains in a row totaling nearly 0.30 points is harder to dismiss; high-balance money market accounts do appear to be repricing upward, though the small pool still means the exact number deserves less trust than the direction. If the level holds in the next report, 2.00% becomes the new floor for this category rather than a line it briefly touched.

Change since July 27, by money market category (percentage points)

This report's averages, July 27 to August 18. Green bars rose.

Compare money market rates: July 27 vs. August 18

The race between money market accounts and CDs

Through July, 12-month CDs were steadily closing the gap on high-yield money market accounts: the money market advantage shrank from 0.224 points to 0.196 to 0.181 across three straight reports. That stopped. With high-yield money market rates at 3.052% and 12-month CD rates at 2.855% in this week's CD rate report, the advantage is back out to 0.197 points, and it comes with none of a CD's commitment. The Federal Reserve is part of the backdrop here: it held its benchmark rate at 3.50% to 3.75% on July 29, with three committee members voting for a quarter-point increase, and money market rates are variable, so if the Fed ever does raise rates, these accounts capture it automatically while a CD stays locked at its opening rate. For now, the unusual situation holds: the account you can empty tomorrow pays more than the one that ties your money up for a year.

What this means for your cash

The difference between the best money market accounts and the average one remains the largest of any deposit product we track. High-yield money market rates average 3.052% while standard accounts average 0.757%; on a $25,000 balance that's roughly $574 a year. It's also worth comparing across product types: high-yield savings rates jumped to 2.115% in this week's savings rate report, but high-yield money market accounts still pay 0.937 points more on average, and many come with check-writing or debit access. If you're new to the product, what a money market account is covers how they differ from savings accounts, and savers comparing local options can line up Arizona money market rates against these national averages. Category history is on our money market rate history page.

The bottom line

This was the strongest report of the week for savers who keep cash liquid. Money market rates rose in every category, high-yield accounts pay more than any CD term or savings category we track, and even the sleepy standard average woke up. The catch is the same as always: those numbers are averages, and the account you already have is probably not the one earning 3.052%. Fifteen minutes comparing offers decides which side of that 2.295-point divide your cash earns on.