In this article we consider the maximum possible growth rate of sequences of long products of matrices all of which are drawn from some specified compact set which has been normalised so as to have joint spectral radius equal to 1. We define the marginal instability rate sequence associated to such a set to be the sequence of real numbers whose entry is the norm of the largest product of length n, and study the general properties of sequences of this form. We describe how new marginal instability rate sequences can be constructed from old ones, extend an earlier example of Protasov and Jungers to obtain marginal instability rate sequences whose limit superior rate of growth matches various non-integer powers of n, and investigate the relationship between marginal instability rate sequences arising from finite sets of matrices and those arising from sets of matrices with cardinality 2. We also give the first example of a finite set whose marginal instability rate sequence is asymptotically similar to a polynomial with non-integer exponent. Previous examples had this property only along a subsequence.