Here's Why Fannie Mae and Freddie Mac Were Up Big Today

Fannie Mae (OTC: FNMA) and Freddie Mac (OTC: FMCC) stock made significant gains in Wednesday's trading, climbing after a U.S. Supreme Court decision that maintained moratoriums on foreclosures and evictions through the end of July. The Biden administration has said that it does not plan to push for the eviction mortarium to be extended beyond the current deadline.

Fannie's and Freddie's share prices ended the day up roughly 10.3% and 9.1%, respectively, according to data from S&P Global Market Intelligence. However, the stocks of the two government-backed financial services companies still closed out June with huge losses due to separate Supreme Court actions roughly a week prior. 

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Source Fool.com