In the last 16 months, the average interest rate on money market accounts (MMAs) has dropped from more than 3% down to its current average of 0.59%, according to BankingMyWay's Rate Index. But that hasn't scared away depositors.In fact, even as average rates on MMAs declined, the amount of cash deposited in MMAs insured by the Federal Deposit Insurance Corporation rose from $2.3 billion in the third quarter of 2007 to $2.5 billion in the third quarter of 2008.
Safety, Rates Make Money Market Accounts a Strong Choice
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