Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
- Bank & Credit Union Health Safety Ratings
- Bank & Credit Union Star Ratings
- Finance Calculators
Jumbo Money Market Rates Fall to 1.956% for a Third Straight Report as High-Yield Rates Hold at 3.075%
Jumbo money market rates fell 0.068 points to 1.956%, a third straight decline. High-yield money market rates held steady at 3.075%, and credit union money market rates held steady at 1.281%.
Rates on high-yield money market accounts held steady at 3.075%, up 0.002 points from 3.073% on September 29. The average for money market rates on jumbo accounts fell 0.068 points to 1.956%, its third straight decline. Business money market rates rose 0.008 points to 1.102%, standard money market rates eased 0.007 points to 0.719%, and credit union money market rates held steady at 1.281%.
Key takeaways
- Jumbo money market rates fell 0.068 points to 1.956%, the largest change of the five categories and a third straight decline; about 158 institutions report jumbo money market rates.
- High-yield money market rates held steady at 3.075%, after 3.037% on September 16, 3.060% on September 22 and 3.073% on September 29.
- Business money market rates rose 0.008 points to 1.102%, standard money market rates eased 0.007 points to 0.719%, and credit union money market rates held steady at 1.281%.
- On a $25,000 balance, the 3.075% high-yield average pays about $768.75 a year, against $179.75 at the 0.719% standard average.
High-yield money market rates held steady at 3.075%
Money market rates by account category, national average APY since April 13
Average APYs from MonitorBankRates.com's nightly collection, the same series this report's figures come from, updated daily.
The high-yield money market average was 3.037% on September 16, 3.060% on September 22, 3.073% on September 29 and is 3.075% this week. Business money market rates rose 0.008 points to 1.102%, from 1.094%. Standard money market rates eased 0.007 points to 0.719%, and credit union money market rates held steady at 1.281%.
Jumbo money market rates fell to 1.956% for a third straight report
Jumbo money market rates averaged 1.956% this week, after 2.277% on September 16, 2.124% on September 22 and 2.024% on September 29. About 158 institutions reported jumbo money market accounts this week, and with a pool that size the average can move by large amounts when institutions enter or leave it.
Change since September 29, by money market category (percentage points)
This report's averages, September 29 to October 6. Green bars rose; red bars fell.
Money market rates this week: September 29 vs. October 6
| Account Category | September 29 APY | October 6 APY | Weekly Change |
|---|---|---|---|
| High-Yield Money Market ▲Online banks & competitive products | 3.073% | 3.075% | ▲ +0.002 |
| Jumbo Money Market ▼High-balance accounts | 2.024% | 1.956% | ▼ -0.068 |
| Credit Union Money Market ▼Share money market accounts | 1.282% | 1.281% | ▼ -0.001 |
| Business Money Market ▲Business & commercial accounts | 1.094% | 1.102% | ▲ +0.008 |
| Standard Money Market ▼Broad market | 0.726% | 0.719% | ▼ -0.007 |
| Compare live offers: credit union money market accounts · business money market accounts · compare money market rates | |||
| All APYs are national averages of what real licensed institutions are actually offering to depositors, not promotional teaser rates or rate aggregator estimates. This comparison runs September 29 to October 6, 2026. Category averages reflect products matching MonitorBankRates.com's money market classification; the jumbo and credit union categories draw from small reporting pools. Source: MonitorBankRates.com. | |||
Money market rates 20 days after the Fed's increase
The Federal Reserve raised its benchmark rate to 3.75% to 4.00% on September 16, its first increase since 2023, by a 12 to 0 vote. Money market rates are variable, so a bank can pass an increase through to accounts its customers already hold, with nothing to sign; the timing and size are each bank's choice. The figures in this report are dated October 6, 20 days after the announcement. The CD report for October 5 covers CD terms.
What $25,000 earns at the October 6 money market averages
A $25,000 balance at the 3.075% high-yield money market average earns about $768.75 a year; at the 0.719% standard average it earns about $179.75. The savings goal calculator calculates the monthly deposit needed to reach a savings goal, and the CD calculator starts from today's national average APY for whichever term you pick; both use average rates computed daily from more than 8,000 banks and credit unions. What a money market account is covers the product basics, Arizona money market rates lists offers in that state, and category history is on the money market rate history page.
Money market averages on October 6
High-yield money market accounts average 3.075% and standard money market accounts average 0.719%. On a $25,000 balance, that is a difference of about $589.00 a year. Jumbo money market accounts average 1.956%. Money market rates are variable, and each bank sets the timing and size of any change that follows the Fed's increase.
Data Coverage & Methodology
All APYs in this report are calculated from rates collected directly from institution websites by MonitorBankRates.com's proprietary systems, tracking what real licensed institutions are actually offering to depositors, not promotional teaser rates or rate aggregator estimates.
As of October 6, 2026, the latest collection ran October 5, 2026. Category counts overlap because an institution can offer accounts in more than one category.
This report is for general information and is not financial advice. The APY any saver receives depends on the institution, balance, and location; confirm current offers with institutions before making decisions.
