High-Yield Savings Account Rates Today: July 21, 2025
Savings account yields are much higher than a few years ago
Top rates may fall if the Federal Reserve cuts interest rates
Online banks tend to offer the best yields available
Rates on savings accounts are the same compared to one week ago. You can now earn up to 5.84% on your savings.
Shopping for an account where you can save for a rainy day or retirement? Here's a look at some of the best savings rates you can find today.
Related: Find the Best High-Yield Savings Accounts Of 2025
Traditional savings accounts, called "statement savings accounts" within the banking industry, were notorious for paying meager interest in the aftermath of the Great Recession. Rates have been on the rise in recent years, and you can earn even more if you know where to look. For instance, online banks and credit unions often pay much higher rates than brick-and-mortar banks.
The highest yield on a standard savings account with a $2,500 minimum deposit amount within the last week has been 5.84%, according to data from Curinos. If you spot a basic savings account with a comparable rate, you've done well for yourself.
Today's average APY for a traditional savings account is 0.22%, Curinos says. APY, or annual percentage yield, accurately represents the actual amount your account will earn during one year. It factors in compound interest, which is the interest that builds up on the interest in your account.
High-yield savings accounts generally pay considerably more interest than conventional savings accounts. But the catch is you may have to jump through some hoops to earn that higher rate, such as becoming a member of a credit union or putting down a large deposit.
On high-yield accounts requiring a minimum deposit of $10,000, today's best interest rate is 4.88%. That's about the same as last week.
The average APY for those accounts is now 0.23% APY, unchanged from a week ago.
On high-yield savings accounts with a minimum opening deposit of $25,000, the highest rate available today is 3.94%. You'll be in good shape if you can nail down an account offering a rate close to that.
The current average is 0.24% APY for a high-yield account with a $25,000 minimum deposit.
Whether you're looking for a traditional savings account, high-yield savings account or MMA, you'll want to keep a few things in mind.
A high interest rate is important, but it's not the only factor when picking an account to hold your savings. Another major consideration is whether the account has a minimum deposit - and whether you can meet that requirement.
You'll also want to watch out for fees. Savings accounts can come with monthly maintenance fees, excess transaction fees (if you ignore limits on withdrawals), and other pesky charges that can eat into your returns.
And before you apply for an account, explore a financial institution's reputation and safety. You should trust your bank or credit union and feel like you're in good hands. Check the reviews, see what people have to say about customer service and find out how the institution responds to consumer questions.
Search for an account that's insured by the FDIC or, in the case of credit unions, the NCUA. Those federal agencies provide up to $250,000 in insurance per depositor and per bank for each account ownership category.
That's tough to say—it depends on the path of inflation and the overall economy.
The highest interest rates in recent memory were seen in 1980 and 1981, when the federal funds rate skyrocketed above 19%. That was in the face of runaway inflation that had prices rising at an annual rate of more than 14%.
In the early 1980s, a three-month CD went as high as 18% compared to around 5% today, according to the Federal Reserve. Savings rates would eventually fall as inflation slowed and the federal funds rate came back down.
Curinos determines the average rates for savings accounts by focusing on those intended for personal use. Certain types of savings accounts —such as relationship-based accounts and accounts designed for youths, seniors and students—are not considered in the calculation. Frequently Asked Questions (FAQs)
The best high-yield savings account pays 5.84% now, according to Curinos data, so you'll want to aim for an account that delivers a yield in that ballpark.
But rates aren't everything. You want an account that charges few fees, offers great customer service and has a track record of being a stable institution.
Savings yields are variable and can change depending on economic conditions or a bank's particular financial need. Usually rates are influenced by the federal funds rate, meaning that a bank tends to raise or lower its rates along with the Fed.
Online banks and credit unions tend to offer the best yields because they can pass along savings from low overhead while also striving to attract new customers.
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The official added that the deal includes the elimination of non-tariff barriers that Trump's team say hinders American companies, including in areas like pre-shipment inspection requirements, motor vehicle safety standards, and restrictions around US medical devices and pharmaceuticals. The exact definition of how Trump defines transshipped goods has been a matter of some debate in recent weeks. The deal with Indonesia includes goods not just re-labeled but made with a significant portion of components from a third country and then assembled in Indonesia. It's a provision also included in a recent deal with Vietnam and is clearly aimed at China. Indonesian negotiators previously confirmed that a deal had been struck but not all details, with the country president's spokesperson telling Reuters the negotiations had been 'an extraordinary struggle.' Trump says US has reached trade deal with the Philippines President Trump said Tuesday the US had reached a trade deal with the Philippines following its president's visit to the White House. He posted on Truth Social: This doesn't seem to move the needle much for the Philippines, whose imports to the US will see a 19% tariff instead of the 20% Trump had threatened from Aug. 1. The Philippines is the US's 29th-largest trade partner. President Trump said Tuesday the US had reached a trade deal with the Philippines following its president's visit to the White House. He posted on Truth Social: This doesn't seem to move the needle much for the Philippines, whose imports to the US will see a 19% tariff instead of the 20% Trump had threatened from Aug. 1. The Philippines is the US's 29th-largest trade partner. Copper-laden ships race to reach US ahead of tariffs Fascinating angle from Bloomberg: Read more here. Fascinating angle from Bloomberg: Read more here. Coca-Cola CFO on tariffs: 'We think we can manage' Coca-Cola's (KO) CFO said the company is managing President Trump's tariffs. "June turned out to be a disappointing month," Coca-Cola CFO John Murphy told Yahoo Finance on Tuesday. He noted that tariffs continue to create uncertainty heading into the second half of the year. "We think we can manage absorbing any of the impacts with the various levers that we have at our disposal. It's always a local decision as to how to utilize those levers, but right now, it's something that we factored into our rest of year guidance." Yahoo Finance's Brooke DiPalma reports that Coca-Cola reported earnings for its second quarter that topped forecasts. Read more here. Coca-Cola's (KO) CFO said the company is managing President Trump's tariffs. "June turned out to be a disappointing month," Coca-Cola CFO John Murphy told Yahoo Finance on Tuesday. He noted that tariffs continue to create uncertainty heading into the second half of the year. "We think we can manage absorbing any of the impacts with the various levers that we have at our disposal. It's always a local decision as to how to utilize those levers, but right now, it's something that we factored into our rest of year guidance." Yahoo Finance's Brooke DiPalma reports that Coca-Cola reported earnings for its second quarter that topped forecasts. Read more here. Bessent says he will meet Chinese officials, discuss tariff deadline extension US Treasury Secretary Scott Bessent told Fox Business on Tuesday that he plans to meet his Chinese counterpart next week and discuss an extension of an August 12 deadline for higher tariffs. Both China and the US reached a trade truce in London last month to prevent escalating tariffs. Reuters reports: Read more here. US Treasury Secretary Scott Bessent told Fox Business on Tuesday that he plans to meet his Chinese counterpart next week and discuss an extension of an August 12 deadline for higher tariffs. Both China and the US reached a trade truce in London last month to prevent escalating tariffs. Reuters reports: Read more here. RTX cuts 2025 profit forecast as tariff costs weigh US aerospace and defense giant RTX (RTX) cut its 2025 profit forecast on Tuesday, citing President Trump's trade war as the major reason. Shares of the company fell 3% in premarket trading. Reuters reports: Read more here. US aerospace and defense giant RTX (RTX) cut its 2025 profit forecast on Tuesday, citing President Trump's trade war as the major reason. Shares of the company fell 3% in premarket trading. Reuters reports: Read more here. GM's core profit slides in second quarter as Trump's tariffs bite Tariffs have started to hit US automaker General Motors (GM), who reported a fall in second quarter core profit of 32% to $3 billion on Tuesday. The automaker said tariffs have sapped $1.1 billion from results as it continues to grapple with President Trump's challenging trade war. Reuters reports: Read more here. Tariffs have started to hit US automaker General Motors (GM), who reported a fall in second quarter core profit of 32% to $3 billion on Tuesday. The automaker said tariffs have sapped $1.1 billion from results as it continues to grapple with President Trump's challenging trade war. Reuters reports: Read more here. Canadian boycott of US spirits hurts broader alcohol sales: Trade group American imports to Canada have dropped sharply due to Canadian provinces' boycott of US spirits amid the ongoing trade war with the United States, according to a Canadian liquor trade group. Reuters reports: Read more here. American imports to Canada have dropped sharply due to Canadian provinces' boycott of US spirits amid the ongoing trade war with the United States, according to a Canadian liquor trade group. Reuters reports: Read more here. 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CNET
26 minutes ago
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Mortgages Cool Off for Homeseekers: Today's Mortgage Rates on July 24, 2025
Check out CNET Money's weekly mortgage rate forecast for a more in-depth look at what's next for Fed rate cuts, labor data and inflation. The average interest rate for a standard 30-year fixed mortgage is 6.77% today, down -0.01% from seven days ago. The average rate for a 15-year fixed mortgage is 6.01%, which is an increase of 0.02% from the same time last week. To qualify for lower mortgage rates, experts recommend making a higher down payment, improving your credit and comparison shopping between lenders. What's behind high rates these days? Lingering inflation, threats of a global trade war and policy turbulence have created an uncertain economic outlook. In response, the Federal Reserve has adopted a wait-and-see approach and kept interest rates steady in 2025. Most economists predict the Fed will start lowering rates in September, particularly if President Trump eases some of his aggressive tariff measures or if the labor market continues to deteriorate. Prospective homebuyers shouldn't bank on mortgage rates becoming affordable overnight. While cheaper borrowing costs gradually trickle down to the housing market, the Fed doesn't directly set lenders' mortgage rates. In today's unaffordable housing market, mortgage rates are just one piece of the puzzle. Prospective buyers still have to contend with high home prices and skyrocketing homeownership expenses. The possibility of a job-loss recession is also pushing many households to tighten their budgets and take on less financial risk. When mortgage rates start to fall, be ready to take advantage. Experts recommend shopping around and comparing multiple offers to get the lowest rate. Enter your information here to get a custom quote from one of CNET's partner lenders. About these rates: Bankrate's tool features rates from partner lenders that you can use when comparing multiple mortgage rates. Are mortgage rates considered high right now? The average 30-year fixed rate has hovered just below 7% for the last several months, resulting in cost-prohibitive monthly payments. Mortgage rates primarily take their cues from the 10-year Treasury yield, which reflects investors' collective expectations regarding inflation, labor market health, upcoming monetary policy shifts and the impact of global factors like tariffs. If investors anticipate persistently high inflation or significant government borrowing, they'll demand higher returns on their bonds, which in turn keeps mortgage rates elevated. "Rates could fall if inflation keeps cooling and the labor market softens," said Jeb Smith, licensed real estate agent and member of CNET Money's expert review board. "On the other hand, tariffs could create new inflation pressure. Add in government deficits and increased bond supply, and that puts upward pressure on rates." Even as the Fed eventually starts to dial back interest rates, experts caution that significant market volatility is likely. As a result, homebuyers are adopting a more patient and strategic approach to financing, comparing various loan types and planning ahead. "Some are waiting, others are getting pre-approved now so they're ready to act if rates fall," said Smith. For a look at mortgage rate movement in recent years, see the chart below. Expert predictions for mortgage rates in 2025 While the housing market was expected to rebound in 2025, it has remained stagnant due to ongoing economic and political uncertainties. Median family income has not kept pace with the surge in housing costs, requiring many households to earn double or triple their salary to afford a modest home in some cities. Mortgage rates would have to take a big step down, close to 6% or below, to drum up significant homebuying demand. But according to Smith, the more likely scenario is that interest rates will take modest and gradual steps down over the coming months. A return to the record-low rates, around 2-3%, we saw during the pandemic would only happen if the economy tipped into a severe recession. Fannie Mae's forecast puts rates around 6.5% by the end of 2025 and 6.1% by the end of 2026. Ongoing uncertainty could cause rates to stay high, or increase further. For instance, if tariffs cause inflation to reignite, which most experts and Fed officials expect, it could result in higher bond yields and fewer interest rate cuts by the central bank. Neither would help bring mortgage rates down for prospective buyers. What is a good mortgage type and term? Each mortgage has a loan term, or payment schedule. The most common mortgage terms are 15 and 30 years, although 10-, 20- and 40-year mortgages also exist. With a fixed-rate mortgage, the interest rate is set for the duration of the loan, offering stability. With an adjustable-rate mortgage, the interest rate is only fixed for a certain amount of time (commonly five, seven or 10 years), after which the rate adjusts annually based on the market. Fixed-rate mortgages are a better option if you plan to live in a home in the long term, but adjustable-rate mortgages may offer lower interest rates upfront. 30-year fixed-rate mortgages For a 30-year, fixed-rate mortgage, the average rate you'll pay is 6.77% today. A 30-year fixed mortgage is the most common loan term. It will often have a higher interest rate than a 15-year mortgage, but you'll have a lower monthly payment. 15-year fixed-rate mortgages Today, the average rate for a 15-year, fixed mortgage is 6.01%. Though you'll have a bigger monthly payment than a 30-year fixed mortgage, a 15-year loan usually comes with a lower interest rate, allowing you to pay less interest in the long run and pay off your mortgage sooner. 5/1 adjustable-rate mortgages A 5/1 ARM has an average rate of 5.88% today. You'll typically get a lower introductory interest rate with a 5/1 ARM in the first five years of the mortgage. But you could pay more after that period, depending on how the rate adjusts annually. If you plan to sell or refinance your house within five years, an ARM could be a good option. Calculate your monthly mortgage payment Getting a mortgage should always depend on your financial situation and long-term goals. The most important thing is to make a budget and try to stay within your means. CNET's mortgage calculator below can help homebuyers prepare for monthly mortgage payments. What are some tips for finding the best mortgage rates? Though mortgage rates and home prices are high, the housing market won't be unaffordable forever. It's always a good time to save for a down payment and improve your credit score to help you secure a competitive mortgage rate when the time is right. Save for a bigger down payment: Though a 20% down payment isn't required, a larger upfront payment means taking out a smaller mortgage, which will help you save in interest. Boost your credit score: You can qualify for a conventional mortgage with a 620 credit score, but a higher score of at least 740 will get you better rates. Pay off debt: Experts recommend a debt-to-income ratio of 36% or less to help you qualify for the best rates. Not carrying other debt will put you in a better position to handle your monthly payments. Research loans and assistance: Government-sponsored loans have more flexible borrowing requirements than conventional loans. Some government-sponsored or private programs can also help with your down payment and closing costs. Shop around for lenders: Researching and comparing multiple loan offers from different lenders can help you secure the lowest mortgage rate for your situation.
