It has been about a month since the big Fed rate cut and the falling bank yields continue. The latest drop is at Capital One. The yield on its High Yield Money Market fell from 5% to 4.75% APY yesterday. However, the yield on CapOne's new Rewards Money Market was kept at 4.66% APY (see post). CapOne also lowered the yield on its Costco Money Market Account. The yield fell from 5.20% to 5.00% APY. For more info on these CapOne accounts, please refer to this previous post.
The downward rate creep continues at AmTrustDirect. The e-Money Market yield fell from 5.06% to 4.93% APY. The lower rate may be intended to pay for their new e-Savings account which has a 5.36% APY 3-month intro rate for new money (see post).
Finally, Zions Bank's Deseret Money Market Account top tier yield fell from 5.56% to 5.51% APY. This requires a balance of over $50K. However, the low tier yield of 5.30% APY remains. This requires a balance of just $1,000. For those looking for a high money market yield at a strong bank, this would be one to consider (see post).
Thanks to all the readers who've provided rate updates in the comments.
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