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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 16, 2026 | 5 min read

High-Yield Money Market Rates Hold at 3.037% While the Fed Decides

High-yield money market rates held steady at 3.037% this week and have barely moved in three reports. The Federal Reserve announces its rate decision this afternoon; money market rates are variable and can follow an increase.

The Federal Reserve announces its rate decision this afternoon. Average money market rates changed little in the week leading up to it. Rates on high-yield money market accounts held steady at 3.037% and have barely moved in three reports. Standard money market rates held nearly steady at 0.753%, business money market rates were unchanged at 1.116%, and credit union money market rates rose to 1.279%. Jumbo money market rates rose to 2.277%, a large move from a category where about 104 institutions report; the same average fell by a similar amount in our September 10 report.

High-yield money market rates have barely moved in three reports

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.

The high-yield money market average was 3.036% on September 1, 3.036% on September 10, and 3.037% today. Standard money market rates held nearly steady at 0.753%, business money market rates were unchanged at 1.116%, and credit union money market rates rose 0.016 points to 1.279%, in a category where about 45 institutions report. No category changed places.

Jumbo averages are swinging on a small reporting pool

Jumbo money market rates averaged 2.277% this week, after 1.736% on September 10 and 2.077% on September 1. About 104 institutions reported jumbo money market accounts this week, the second-smallest pool we track, and with a pool that size the average can move by large amounts when institutions enter or leave it. Offers in our data reach 4.00% on jumbo balances.

Change since September 10, by money market category (percentage points)

This report's averages, September 10 to September 16. Green bars rose; red bars fell.

Money market rates this week: September 10 vs. September 16

The Fed announces its rate decision this afternoon

The Federal Reserve announces its decision this afternoon. Money market rates are variable: if the Fed raises its benchmark from 3.50% to 3.75%, a bank can pass the increase through to accounts its customers already hold, and if the Fed holds, these rates stay where they are. This week's CD report covers CD terms.

What a $25,000 balance earns at this week's averages

A $25,000 balance at the 3.037% high-yield money market average earns about $759 a year; at the 0.753% standard average it earns about $188. The savings calculator projects what a balance grows to at today's money market average, and the savings goal calculator calculates the monthly deposit needed to reach a savings goal; 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, Michigan money market rates lists offers in that state, and category history is on the money market rate history page.

The bottom line before the announcement

High-yield money market accounts average 3.037% going into the announcement, and standard money market accounts average 0.753%. On a $25,000 balance, that is a difference of about $571 a year. Money market rates are variable, so rates on accounts opened this week can change after the Fed's decision.