Money Market Rate Trends
The Money Market Rate Trends are still tied to what the FED is doing on the financial markets. This has been artificially keeping the interest rates low for those Americans who are using this mechanism for investing their money.
The main difference between the Money Market Rates and that of a regular savings account is a person can write a check against the balance of their Money Market account.
The current bank rates for many market accounts are hovering about 1% APY. This is has been stationary for the better part of 2 years now. Unfortunately this trend has been going down slightly during that time. If you find a good rate, there is generally a minimum balance of over $10,000 in which your balance must be maintained or your APY will be reduced.
Unfortunately the money market rates have not kept pace with the treasury bonds which are over 3% at this time. The influence the FED has on these rates along with the others in the financial market is ruining the savings of millions of retired Americans. The worst part is there is nothing the average consumer can do other than at election time to vote for a president that has the welfare of the people first on their agenda rather than that of big business.
In for foreseeable future the interest rates of all types of investments will remain artificially low with little to no hope of any reprieve. The only way to change the current Money Market Rate Trends is at the ballot box. So remember to vote. Your future counts on it.