The repurchase agreements outstanding, weighted average borrowing rates, weighted average remaining maturities, average daily balances and the fair value of collateral pledged as of December 31, 2017 and December 31, 2016 were:



	December 31, 2017			December 31, 2016
Repurchase agreements outstanding secured by:
Agency MBS (in thousands)	$	3,202,056		$	3,087,734
Non-agency MBS and Loans held for investment (in thousands)	4,048,396			2,513,169
Total:	$	7,250,452		$	5,600,903

Average balance of Repurchase agreements secured by:
Agency MBS (in thousands)	$	3,120,474		$	4,159,651
Non-agency MBS and Loans held for investment (in thousands)	3,203,700			2,322,683
Total:	$	6,324,174		$	6,482,334

Average borrowing rate of Repurchase agreements secured by:
Agency MBS	1.47		%	0.90		%
Non-agency MBS and Loans held for investment	3.41		%	3.05		%

Average remaining maturity of Repurchase agreements secured by:
Agency MBS	28 Days			32 Days
Non-agency MBS and Loans held for investment	93 Days			98 Days

Average original maturity of Repurchase agreements secured by:
Agency MBS	87 Days			112 Days
Non-agency MBS and Loans held for investment	123 Days			155 Days

MBS pledged as collateral at fair value on Repurchase agreements:
Agency MBS (in thousands)	$	3,450,123		$	3,334,245
Non-agency MBS and Loans held for investment (in thousands)	5,338,557			3,699,621
Total:	$	8,788,680		$	7,033,866

At December 31, 2017 and December 31, 2016, the repurchase agreements collateralized by MBS and Loans held for investment had the following remaining maturities.



	December 31, 2017		December 31, 2016
	(dollars in thousands)
Overnight	$	—	$	—
1 to 29 days	4,745,342		2,947,604
30 to 59 days	1,206,769		958,956
60 to 89 days	592,865		407,625
90 to 119 days	—		559,533
Greater than or equal to 120 days	705,476		727,185
Total	$	7,250,452	$	5,600,903