Money market account yields reach 4.01% as Fed holds rates steady

Top money market account rates reached as high as 4.01% APY on May 14, 2026, as banks continued to offer yields well above the 0.57% national average reported by the FDIC. The elevated rates follow the Federal Reserve’s decision to hold the federal funds rate at a 3.50% to 3.75% target range in 2026. The Fed previously kept rates at 5.25% to 5.50% from July 2023 through September 2024, then cut rates three times in 2024 and three more times in 2025. Deposit rates have declined from recent highs, but some institutions still offer money market yields above 4%. Accounts paying 7% are not available in the money market category and are generally limited-time checking promotions.