Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
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High-Yield Money Market Rates Rise for a Second Straight Report, to 3.073%
High-yield money market rates rose 0.013 points to 3.073%, a second straight increase. Jumbo money market rates fell for a second straight report, to 2.024%, and standard, credit union and business money market averages eased.
Rates on high-yield money market accounts rose 0.013 points to 3.073%, a second straight increase after 3.037% on September 16 and 3.060% on September 22. The average for money market rates on jumbo accounts fell to 2.024%, its second straight decline. Standard money market rates eased to 0.726%, credit union money market rates to 1.282% and business money market rates to 1.094%.
Of the 380 readers who answered that question in our September 16 to 23 reader survey, 319 (84%) said they plan to move money into a higher-yield account. The Federal Reserve raised its benchmark rate a quarter point to 3.75% to 4.00% on September 16.
Key takeaways
- High-yield money market rates rose 0.013 points to 3.073%, up 0.036 points from 3.037% on September 16.
- Jumbo money market rates fell 0.100 points to 2.024%, a second straight decline, from a reporting pool of about 145 institutions.
- Standard money market rates eased to 0.726%, credit union money market rates to 1.282% and business money market rates to 1.094%.
- 319 of the 380 readers who answered our September 16 to 23 survey question (84%) said they plan to move money into a higher-yield account.
- On a $25,000 balance, the 3.073% high-yield average pays about $768 a year, against about $182 at the 0.726% standard average.
High-yield money market rates rose for a second straight report
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 and September 10, 3.037% on September 16 and 3.060% on September 22; this report puts it at 3.073%, a 0.013-point rise. Credit union money market rates fell 0.011 points to 1.282% and business money market rates fell 0.032 points to 1.094%. Standard money market rates eased 0.006 points to 0.726%.
Jumbo money market rates fell to 2.024% on a small reporting pool
Jumbo money market rates averaged 2.024% this week, after 2.124% on September 22 and 2.277% on September 16. About 145 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 22, by money market category (percentage points)
This report's averages, September 22 to September 29. Green bars rose; red bars fell.
Money market rates this week: September 22 vs. September 29
| Account Category | September 22 APY | September 29 APY | Weekly Change |
|---|---|---|---|
| High-Yield Money Market ▲Online banks & competitive products | 3.060% | 3.073% | ▲ +0.013 |
| Jumbo Money Market ▼High-balance accounts | 2.124% | 2.024% | ▼ -0.100 |
| Credit Union Money Market ▼Share money market accounts | 1.293% | 1.282% | ▼ -0.011 |
| Business Money Market ▼Business & commercial accounts | 1.126% | 1.094% | ▼ -0.032 |
| Standard Money Market ▼Broad market | 0.732% | 0.726% | ▼ -0.006 |
| 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 22 to September 29, 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 are variable 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 were collected 13 days after the announcement. The CD report for September 28 covers CD terms.
What a $25,000 balance earns at current averages
A $25,000 balance at the 3.073% high-yield money market average earns about $768.25 a year; at the 0.726% standard average it earns about $181.50. The savings calculator shows how a balance grows at a chosen APY, and the CD vs. high-yield savings calculator compares the two options; 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, Illinois money market rates lists offers in that state, and category history is on the money market rate history page.
Money market rates at a glance, September 29
High-yield money market accounts average 3.073% and standard money market accounts average 0.726%. On a $25,000 balance, that is a difference of about $586.75 a year. Jumbo money market accounts average 2.024%. 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 September 29, 2026, the latest collection ran September 29, 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.
