Highest Bank Savings Rates and Money Market Rates November 2013
Below is a list of the highest bank savings account rates and money market account rates for the month of November. As you can see the best rates haven't changed over last month's best rates. We won't see higher interest rates until the Federal Reserve Open Market Committee (FOMC) votes to increase the federal funds rate.
A higher federal funds rate will happen when the unemployment rate falls from the current level of 7.2 percent down to 6.5 percent. October's employment report will be released this morning at 8:30 AM. Thanks to the government shutdown and debt ceiling fight the unemployment rate is expected to increase to 7.4 percent.
The unemployment rate won't fall to 6.5 percent until April or May of 2014 so we won't see higher savings rates, money market rates and CD rates until next year. We will have to wait until the summer of 2014 for higher bank interest rates, but for now here is a list of the highest rates available.
Highest Savings Account Rates November 2013
Highest Money Market Account Rates November 2013
You can always find a list of the best savings rates, money market rates or CD rates by searching our database of rates at MonitorBankRates.com.