GITNUX MARKETDATA REPORT 2024

Statistics About The Average Money Market Rates

With sources from: money-rates.com, bankrate.com, ycharts.com, nerdwallet.com and many more

Statistic 1

The best money market rates as of October 2021 offer more than 0.50%

Statistic 2

The average annual percentage yield on money market deposit accounts in the USA as of July 2021 stood at 0.06%.

Statistic 3

The highest nationwide money market rates Many are still over 0.60%.

Statistic 4

In 2020, the average interest rate on money market deposit accounts in the United States was 0.26%.

Statistic 5

The highest money market rates available are about 60x the national average interest rate in October 2021.

Statistic 6

As of July 2021, the money market mutual fund assets in the USA amounted to approximately $4.32 trillion.

Statistic 7

In 2010, the average interest rate on a money market account was around 0.2%.

Statistic 8

In 2007, money market accounts had an average interest rate of over 4%.

Statistic 9

In 2016, money market accounts had an average interest rate of 0.10%.

Statistic 10

The average yield for money market mutual funds in 2021 stands at 0.03%.

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In this post, we highlight various statistics related to money market rates in the USA. From the fluctuating national averages over the years to the significant disparities in interest rates, we delve into the dynamics of money market accounts and funds, shedding light on the current landscape of financial investments.

Statistic 1

"The best money market rates as of October 2021 offer more than 0.50%"

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Statistic 2

"The average annual percentage yield on money market deposit accounts in the USA as of July 2021 stood at 0.06%."

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Statistic 3

"The highest nationwide money market rates Many are still over 0.60%."

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Statistic 4

"In 2020, the average interest rate on money market deposit accounts in the United States was 0.26%."

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Statistic 5

"The highest money market rates available are about 60x the national average interest rate in October 2021."

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Statistic 6

"As of July 2021, the money market mutual fund assets in the USA amounted to approximately $4.32 trillion."

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Statistic 7

"In 2010, the average interest rate on a money market account was around 0.2%."

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Statistic 8

"In 2007, money market accounts had an average interest rate of over 4%."

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Statistic 9

"In 2016, money market accounts had an average interest rate of 0.10%."

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Statistic 10

"The average yield for money market mutual funds in 2021 stands at 0.03%."

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Interpretation

In summary, the money market rates in the USA have shown fluctuations over the years, with varying averages and highs across different time periods. As of October 2021, the best rates exceed 0.50%, significantly surpassing the national average. This contrasts with the lower averages seen in previous years, such as 0.06% in July 2021 and 0.26% in 2020. The data indicates a wide gap between the highest and average rates, with the former being around 60 times greater than the latter in October 2021. Additionally, the substantial amount of money market mutual fund assets in the USA emphasizes the continued significance and popularity of such financial instruments.

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