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Brian McKay

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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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| September 1, 2026 | 5 min read

Most Money Market Rates Hold Steady; Jumbo Rates Rise Again

High-yield money market rates held near 3% this week at 3.036%, a higher average than any savings account category or CD term we track. Banks increased rates on jumbo money market accounts for a fourth straight report, and that average rose to 2.077%.

Most money market rates barely moved this week. High-yield money market accounts pay an average 3.036%, down 0.007 points and still slightly above their July 27 average of 3.034%. Standard money market rates held at 0.746%, and business money market rates held nearly steady at 1.105% after five straight reports with gains. Jumbo money market accounts were the exception again: banks raised rates there for a fourth straight report, and that average climbed 0.027 points to 2.077%. Credit union money market rates fell 0.057 points to 1.268%, a category where roughly 50 institutions report, so single lenders move that number.

Quiet week for most money market accounts

Money market rates by account category, national average APY since mid-April

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

High-yield money market rates eased 0.007 points to 3.036%, a second small dip. High-yield money market accounts still carry the highest average of any liquid deposit category we track. Standard money market rates held at 0.746%, and business money market rates held nearly steady at 1.105% after rising in five straight reports. Credit union money market rates posted the week's largest decline, 0.057 points to 1.268%, and deserve their own caveat: roughly 50 institutions report in that category, so a couple of credit unions repricing can move it this much. No category changed places.

Banks keep raising jumbo money market rates

Jumbo money market rates rose 0.027 points to 2.077%, a fourth straight report with a gain, and have climbed from 1.708% since mid-July, a rise of 0.369 points while every other money market category moved in hundredths. About 139 institutions report jumbo money market accounts, a small enough group that exact figures deserve less trust than direction, but four straight increases point the same way: banks competing for six-figure deposits keep raising what they pay. Savers holding that kind of balance have good reason to get fresh quotes this month.

Change since August 25, by money market category (percentage points)

This report's averages, August 25 to September 1. Green bars rose; red bars fell.

Money market rates this week: August 25 vs. September 1

A September hike would favor money market savers

For a fourth straight report, a high-yield money market account pays more than an average 12-month CD: 3.036% against the 2.830% in this week's CD rate report, a 0.206-point edge with none of a CD's lock-in. Savings accounts gave more ground: high-yield savings rates fell to 1.988% in this week's savings report, so a high-yield money market account now pays 1.048 points more than a high-yield savings account. Then there is September 15 and 16. After Fed Chairman Kevin Warsh's Jackson Hole remarks on Friday, futures markets put odds of a quarter-point increase at that meeting near 60%, and money market rates are variable: if banks pass an increase through, savers in these accounts collect it without opening anything new, while a CD bought today would keep paying its opening rate. Money market savers come out ahead of CD buyers on rate today and would follow rates up if September brings an increase.

$25,000 in a money market account versus a savings account

This week's savings decline makes the product comparison worth running in dollars. A $25,000 balance at the 3.036% high-yield money market average earns about $759 a year; the same balance at the 1.988% high-yield savings average earns about $497, roughly $262 less, and many money market accounts add check-writing or a debit card on top. Savers new to the product can start with what a money market account is, anyone comparing local offers can line up Michigan money market rates against these national averages, and category history is on our money market rate history page.

The bottom line on money market accounts

Banks left most money market rates alone this week and kept raising rates on jumbo accounts, and high-yield money market accounts again posted a higher average than any CD term or savings category we track. Two weeks from a Fed decision that could push variable rates higher, savers earning near the 0.746% standard average have more reason than usual to compare current offers: it takes minutes, and an account opened now would follow whatever September brings.