Savers can still earn a sizable return with a $10,000 deposit made into a CD or money market account. Gabe Ginsberg/Getty Images

Federal Reserve interest rate cuts over the past year, approximately, have helped to reduce the borrowing costs for many Americans. Mortgage rates , for example, are now around a full percentage point lower than they were at the start of 2025. Rates on home equity loans and home equity lines of credit (HELOCs) are also near multi-year lows now, thanks largely to this cooler interest rate climate.

But a cooler interest rate climate works both ways, as savers are now experiencing. Rates on high-yield savings and certificate of deposit (CD) accounts are both lower than they were around a year ago, too. And the same is true for money market ac

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