The Great Rate Chase: Why Online Banks Hold the Key to Higher Returns The latest figures on money market account rates paint a stark picture of a market in limbo.
Despite the Federal Reserve's efforts to stabilize the economy, deposit interest rates have remained stagnant, failing to live up to the promise of high returns that once lured investors into the fray.
Online banks are consistently outpacing their traditional counterparts when it comes to money market account rates, offering APYs upwards of 4%, a staggering six times the national average.