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Forbes
3 days ago
- Business
- Forbes
This Boring-Sounding Economic Shift Could Boost Your Savings Cushion
Forbes Something as dry-sounding as a Treasury yield might not seem like it impacts your wallet, but it absolutely does. Yields are flashing warning signs about how investors feel about the economy, and the ripple effects are hitting everything from mortgage rates to savings accounts. When investors expect the economy to slow down, they buy safer things like government bonds—which pushes yields lower and signals worry about the future. According to the U.S. Department of the Treasury, the 10-year Treasury yield sits at 4.36% as of June 12, 2025, among the highest levels in recent years. Right now, one of the smartest money moves you can make is parking your savings in a high-yield account that benefits from rising Treasury yields. Related: Looking for the perfect banking solution? Compare products from multiple banks with Forbes Advisor. Treasuries are government bonds, and their yields reflect how much the government must pay to borrow money. These yields also set the tone for interest rates, including those of mortgages, student loans and savings accounts. "When Treasury yields climb, it's not just Wall Street that takes notice. Main Street feels it, too," says Christopher M. Naghibi, executive vice president and COO at First Foundation Bank. 'The 10-year Treasury is like the economy's mood ring. When yields are rising, it usually means investors expect inflation to hang around or they're uneasy about the Fed's next move.' When yields rise, borrowing gets more expensive and saving becomes more rewarding. Here's how it plays out for consumers: "For consumers, you already can feel that borrowing has gotten palpably more expensive," says Naghibi. "On the flip side, savers finally get to feel like they're not being punished. Just a few years ago, you couldn't get a liquid money-market account with a meaningful interest rate. Now you have a charcuterie board of options to choose from." When Treasury yields go up, the interest you earn on savings accounts and CDs often rises, too. That's not just a market quirk. It's actually built into how banks are allowed to compete for your deposits. According to the Federal Deposit Insurance Corporation (FDIC), the cap on how much interest certain banks can offer is partly tied to Treasury yields. For example, the national rate cap for a 12-month CD is calculated as the greater of either the national average plus 75 basis points or 120% of the current yield on similar U.S. Treasury securities plus 75 basis points. As Treasury yields rise, banks get more room to offer higher savings rates. Read more: Our picks of the best high-yield savings accounts High-yield savings accounts (HYSAs) are one of the best ways to benefit from rising Treasury yields without taking on market risk. These accounts are FDIC-insured, meaning your money is protected up to $250,000 per depositor, per insured bank, per ownership category. "Let's say you have $10,000 sitting in a regular [savings] account. You'd earn about a dollar a year in interest. With a high-yield savings account at 4.5%, you'd earn around $450—without doing anything," says Naghibi. Rising yields can feel intimidating, but they also open the door to strategic financial decisions: "Lock in fixed rates where you can, consider laddering CDs, and if you're feeling fancy, a well-balanced bond fund might help you ride the ups and downs without losing your shirt," Naghibi says. Read more: Our picks of the best CD rates To help you take advantage, here are high-yield savings accounts we vetted based on APY, fees, accessibility and digital experience. All are FDIC-insured. Synchrony High-Yield Savings Best for: Stand-alone savings and emergency funds Synchrony stands out with strong customer service, a solid APY and rare ATM access for a savings account. Details as of 6/5/25. American Express High-Yield Savings Best for: Simplicity and brand familiarity This digital account is easy to use and offers a higher-than-average yield for a big-name bank. Details as of 6/5/25. Barclays Online Savings Best for: Fee-free savings with no strings attached With zero fees and no minimum, this account makes it easy to start saving, even with $1. Details as of 6/5/25. Marcus by Goldman Sachs High-Yield Online Savings Best for: Support and stability Marcus offers a solid APY, 24/7 customer support and zero account hassles. Details as of 6/5/25. Rising Treasury yields influence how much we pay for loans and how much we can earn on savings. While you can't control bond markets or government spending, you can take smart steps to keep your money safe and growing. "The 10-year is more than just a number," says Naghibi. "It's a pulse check on the economy, and it pays (literally) to pay attention. I watch it daily, multiple times through the day." Related: Looking for the perfect banking solution? Compare products from multiple banks with Forbes Advisor.
Yahoo
30-05-2025
- Business
- Yahoo
First Foundation Bank review (2025): Personal and business banking with competitive online rates
Summary: First Foundation Bank (FFB) is a California-based bank that provides consumer and business banking products as well as private wealth management services. The bank was founded in 2008, though its roots date back to 1990 when it originally provided wealth management services to individuals and businesses in Orange County. Today, it operates a handful of branches in California, Florida, Hawaii, Nevada, and Texas and provides online accounts. First Foundation Bank offers three checking account options. Personal checking: The personal checking account requires a $100 minimum opening deposit, but there's no ongoing minimum balance required. There are also no monthly fees. However, this account does not earn interest. Personal interest checking: This interest-bearing checking account also requires a minimum opening deposit of $100. It comes with a monthly fee of $20, which can be waived by maintaining a minimum daily balance of $2,500. Senior interest checking: This interest-bearing account is designed for customers age 55 and older. There is no minimum balance required to avoid monthly fees or earn the highest rate. It also comes with free checks. First Foundation Bank reimburses ATM fees (nationwide) for checking account customers up to $20 per transaction. First Foundation Bank offers a variety of savings accounts tailored to meet different financial goals and preferences. Personal savings: This traditional savings account requires a minimum opening balance of $100. There is a $3 monthly maintenance fee, which can be waived by maintaining a minimum daily balance of $250 or more. Senior savings: This savings account for customers age 55 and older requires a minimum opening deposit of $100. It also charges a $3 monthly maintenance fee, which can be waived by maintaining a minimum daily balance of $250 or more. Online savings: The online savings account offers a competitive interest rate (4.25% APY as of May 2025) and has no monthly fee. It does, however, require a larger minimum opening deposit of $1,000. First Foundation offers personal and online money market accounts. Both accounts give you debit card and check writing access while earning a high yield on your balance. The online money market account has a 4.25% APY ($1,000 minimum deposit required), ranking it among the best money market accounts available today. Additionally, First Foundation Bank's money market accounts have no monthly maintenance fees. They also offer ATM fee reimbursements when using a debit card. First Foundation Bank offers various CDs, including two you can open online (four-month and 12-month terms). CDs require a $2,500 minimum deposit. Here's a look at the common fees you may incur as a First Foundation Bank customer: While this bank has some attractive offers, consider these pros and cons before opening an account. Pros Competitive interest rates on deposits: The yields on savings, CD, and money market accounts are among the best available today. Online accounts have no monthly fees: Several of this bank's accounts, including its online accounts, have no monthly fees. Generous ATM fee reimbursement: First Foundation reimburses up to $20 of ATM fees per transaction. There is no monthly limit on reimbursements. Cons Higher minimum deposit requirements: Several accounts have minimum opening deposit or monthly balance requirements to avoid the monthly maintenance fee. Limited branch access: FFB has 31 branches in California, Florida, Hawaii, Nevada, and Texas. Some of its products can only be opened in person. FFB has several contact methods. You can email the Digital Bank team with questions at newaccount@ Phone support is available Monday through Thursday from 5:00 a.m. to 8:00 p.m. PT, Friday from 5:00 a.m. to 6:00 p.m. PT, and Saturday from 6:00 a.m. to 2:30 p.m. PT. The contact number is 888-405-4332. First Foundation Bank's app has mostly positive reviews with a 4.1-star rating on the Google Play store and a 4.6-star rating on the Apple App Store. Many users say the app is easy to use and intuitive, while some report various technical issues. The app lets you get a quick glance at your accounts, view statements, transfer money, pay bills, and deposit checks. While banking apps often focus on banking activities, FBB's app also lets you link external accounts for budgeting purposes. First Foundation's corporate headquarters are located at the following address: 18101 Von Karman Ave., Suite 750 Irvine, CA 92612 For phone support, call 888-405-4332. Yes, First Foundation Bank is FDIC-insured up to $250,000 per depositor per ownership category. First Foundation Bank's routing number is 122287581. As an FDIC-insured bank, FFB is very safe. Your money is insured up to the allowable limit. Yes, First Foundation Bank is real. It is a California-based bank with physical locations in five states. First Foundation Bank is a relatively small bank. It has $12.6 billion in bank assets and $5.1 billion in advisory assets as of March 31, 2025. It has 562 employees and 31 branch locations.
Yahoo
25-03-2025
- Business
- Yahoo
Best money market account rates today: March 25, 2025 (earn up to 4.50% APY)
Money market accounts (MMAs) can be a great place to store your cash if you're looking for a relatively high interest rate along with liquidity and flexibility. Unlike traditional savings accounts, MMAs typically offer better returns, and they may also provide check-writing privileges and debit card access. This makes these accounts ideal for holding long-term savings that you want to grow over time, but can still access when needed for certain purchases or bills. The national average interest rate for money market accounts is just 0.64%, according to the FDIC. However, the best money market account rates often pay above 4% APY — similar to the rates offered on high-yield savings accounts. Today, the best money market account rate is offered by First Foundation Bank. Account holders can earn 4.50% APY with a $1,000 minimum opening deposit. Here is a look at today's highest money market account rates: Interested in earning the best possible interest rate on your savings balance? Here is a look at some of the best savings and money market account rates available today from our verified partners. This embedded content is not available in your region. Money market account rates have fluctuated significantly in recent years, largely due to changes in the Federal Reserve's target interest rate, known as the federal funds rate. In the wake of the 2008 financial crisis, for example, interest rates were kept extremely low to stimulate the economy. The Fed slashed the federal funds rate to near zero, which led to very low MMA rates. During this time, money market account rates were typically around 0.10% to 0.50%, with many accounts offering rates on the lower end of that range. Eventually, the Fed began raising interest rates gradually as the economy improved. This led to higher yields on savings products, including MMAs. However, in 2020, the COVID-19 pandemic led to a brief but sharp recession, and the Fed once again cut its benchmark rate to near zero to combat the economic fallout. This resulted in a sharp decline in MMA rates. But starting in 2022, the Fed embarked on a series of aggressive interest rate hikes to combat inflation. This led to historically high deposit rates across the board. By late 2023, money market account rates had risen substantially, with many accounts offering 4.00% or higher. Throughout 2024, MMA interest rates remained elevated, and it was possible to find accounts that paid well above 5% APY. Today, rates remain high by historical standards, though they've begun a downward trajectory following the Fed's most recent rate cuts later in late 2024. Today, online banks and credit unions tend to offer the highest rates. When comparing money market accounts, it's important to look beyond just the interest rate. Other factors, such as minimum balance requirements, fees, and withdrawal limits, can impact the total value you get from the account. For example, it's common for money market accounts to require a large minimum balance in order to earn the highest advertised rate — as much as $5,000 or more in some cases. Other accounts may charge monthly maintenance fees that can eat into your interest earnings. However, there are several MMAs available that offer competitive rates without any balance requirements, fees, or other restrictions. That's why it's important to shop around and compare accounts before making a decision. Additionally, ensure that the account you choose is insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), which guarantees deposits up to $250,000 per institution, per depositor. Most money market accounts are federally insured, but it's important to double-check in the rare case the financial insitution fails. Read more: Are money market accounts safe? By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Today, money market account rates are still quite high by historical standards. The best accounts provide over 4% APY, with the highest rate available today at 4.51% APY. The amount $10,000 will earn in a money market account depends on the annual percentage yield (APY) offered by the account, as well as how long you keep your money in the account. Let's say you choose to deposit $10,000 in a money market account that earns 4% APY with monthly compounding interest. After one year, you would earn $407.44 in interest, for a total balance of $10,407.44. Money market accounts are generally safe and flexible savings options, but like any other financial product, they come with some downsides, too. For instance, some MMAs require a high minimum balance to open the account or to earn the advertised APY. Failing to maintain that minimum balance can result in penalties or reduced interest rates. Additionally, money market rates are variable, which means they can change at any time at the bank's discretions. If interest rates drop, so will your account APY, which can make future earnings unpredictable compared to fixed-rate products like CDs. This embedded content is not available in your region.
Yahoo
24-03-2025
- Business
- Yahoo
Best money market account rates today: March 24, 2025 (earn up to 4.50% APY)
Money market accounts (MMAs) can be a great place to store your cash if you're looking for a relatively high interest rate along with liquidity and flexibility. Unlike traditional savings accounts, MMAs typically offer better returns, and they may also provide check-writing privileges and debit card access. This makes these accounts ideal for holding long-term savings that you want to grow over time, but can still access when needed for certain purchases or bills. Even though rates have been falling over the past several months, it's still possible to find money market accounts that pay more than 4% APY. Today, the best money market account rate is offered by First Foundation Bank. Account holders can earn 4.50% APY with a $1,000 minimum opening deposit. Here is a look at some of today's best money market account rates: Interested in earning the best possible interest rate on your savings balance? Here is a look at some of the best savings and money market account rates available today from our verified partners. This embedded content is not available in your region. Money market account rates have fluctuated significantly in recent years, largely due to changes in the Federal Reserve's target interest rate. In the wake of the 2008 financial crisis, for example, interest rates were kept extremely low to stimulate the economy. The Fed slashed the federal funds rate to near zero, which led to very low MMA rates. During this time, money market account rates were typically around 0.10% to 0.50%, with many accounts offering rates on the lower end of that range. Eventually, the Fed began raising interest rates gradually as the economy improved. This led to higher yields on savings products, including MMAs. However, in 2020, the COVID-19 pandemic led to a brief but sharp recession, and the Fed once again cut its benchmark rate to near zero to combat the economic fallout. This resulted in a sharp decline in MMA rates. But starting in 2022, the Fed embarked on a series of aggressive interest rate hikes to combat inflation. This led to historically high deposit rates across the board. By late 2023, money market account rates had risen substantially, with many accounts offering 4.00% or higher. However, the Fed finally began cutting rates in late 2024. As of 2025, MMA rates remain high by historical standards, though they've begun a downward trajectory following the Fed's most recent rate cuts. Today, online banks and credit unions tend to offer the highest rates. When comparing money market accounts, it's important to look beyond just the interest rate. Other factors, such as minimum balance requirements, fees, and withdrawal limits, can impact the total value you get from the account. For example, it's common for money market accounts to require a large minimum balance in order to earn the highest advertised rate — as much as $5,000 or more in some cases. Other accounts may charge monthly maintenance fees that can eat into your interest earnings. However, there are several MMAs available that offer competitive rates without any balance requirements, fees, or other restrictions. That's why it's important to shop around and compare accounts before making a decision. Additionally, ensure that the account you choose is insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), which guarantees deposits up to $250,000 per institution, per depositor. Most money market accounts are federally insured, but it's important to double-check in the rare case the financial insitution fails. Read more: Money market account vs. high-yield savings account: Which is best for you? The national average interest rate for money market accounts is just 0.64%, according to the FDIC. However, the best money market account rates often pay around 4% to 4.50% APY — similar to the rates offered on high-yield savings accounts. The amount you will earn on $50,000 in a money market account depends on the annual percentage rate (APY) and the time period you leave the money in the account. For example, if you deposit $50,000 into a money market account that pays 4.5% APY and left it in your account for one year, you'd earn $2,303 in interest. There are currently no money market accounts that pay 5% APY. However, some high-yield savings accounts from online banks do. You can also check with your local bank or credit union to find out if they offer a 5% APY account that fits your needs. This embedded content is not available in your region.
