When you are a loan officer, you may have clients with money market accounts. It’s important to understand what a money market account is and how it works. That way, you can educate clients about the best investing options for them.
What is a Money Market?
A money market is a type of savings account offered by banks and credit unions. They are similar to a traditional to savings accounts in that they earn interest, but at a slightly higher rate. The bank will take the money clients invest to create other loans or investments. [Read more…]