Condensed Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 13,779	$ (208,866)
Adjustments to reconcile net loss to net cash provided by operating activities:
Stock based compensation	652	404
Realized losses on mortgage-backed securities	0	66,529
Unrealized losses on mortgage-backed securities and U.S. Treasury Notes	15,644	480,560
Realized and unrealized gains on derivative instruments	(15,244)	(161,731)
Changes in operating assets and liabilities:
Accrued interest receivable	(3,747)	4,927
Other assets	(339)	(583)
Accrued interest payable	2,071	3,152
Other liabilities	410	198
Due to affiliates	110	76
NET CASH PROVIDED BY OPERATING ACTIVITIES	13,336	184,666
CASH FLOWS FROM INVESTING ACTIVITIES:
Net (payments on) proceeds from derivative instruments	(11,484)	167,307
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	(861,917)	2,190,809
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from repurchase agreements	17,626,375	22,121,707
Principal payments on repurchase agreements	(16,803,103)	(24,606,833)
Cash dividends	(37,307)	(54,979)
Proceeds from issuance of common stock, net of issuance costs	79,012	0
Common stock repurchases, including shares withheld from employee stock awards for payment of taxes	(4,278)	(2,441)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	860,699	(2,542,546)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	12,118	(167,071)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period	237,219	450,442
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period	249,337	283,371
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	88,817	7,683
Collateralized Mortgage-Backed Securities [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(988,824)	(190,638)
Sales	0	1,934,606
Principal repayments	$ 138,391	$ 279,534