The best bank money market account rates continued their listless movement through the week of May 22, 2009.  In a week where the ten year Treasury bond rate increased from 3.14% to 3.45%, short term CD rates dropped while long term CD yields rose, once again money market rates remained for the most part unchanged.  The average of the top ten best money market rates dropped to 2.12% from 2.14% the previous week.  The highest money market rate available nationally continues to be marketed by Nexity Bank, based in Birmingham, Alabama with a money market account rate at 2.26%.  The top four bank money market rates, including Nexity Bank, remained unchanged week over week.  Notable mentions for best money market account rates includes the rates of One West Bank and AmTrust Direct, both banks continue to offer money market rates at 2.25%.  Only three banks in the top ten reduced their rates for the week while the majority of the money market rates offered were unmoved.  While rates continue to hover in this low interest rate range, for savers searching for the best money market rates, the difference between the average rates and the highest rates is fairly noteworthy.  The spread between even the highest money market rate and the lowest bank rate on the list widened with the lowest rate falling to 1.90%.

Tags: , , , , , , , , , ,

No user commented in " Bank Money Market Account Rates for the Week of May 22, 2009 "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)