Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 19,776	$ 3,530
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock based compensation	(140)	409
Discount accretion on U.S. Treasury Bills	(1,221)	0
Unrealized losses (gains) on mortgage-backed securities and U.S. Treasury securities	61,895	(53,895)
Realized and unrealized (gains) losses on derivative instruments	(39,176)	43,563
Changes in operating assets and liabilities:
Accrued interest receivable	(663)	(1,601)
Other assets	(530)	(459)
Accrued interest payable	4,830	5,544
Other liabilities	244	182
Due to affiliates	(6)	98
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	45,009	(2,629)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(98,643)	0
Proceeds from maturity of U.S. Treasury securities, available-for-sale	100,000	0
Net proceeds from (payments on) derivative instruments	8,435	(42,450)
NET CASH USED IN INVESTING ACTIVITIES	(39,169)	(448,889)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from repurchase agreements	8,529,398	7,849,145
Principal payments on repurchase agreements	(8,523,549)	(7,458,153)
Cash dividends	(18,564)	(18,422)
Proceeds from issuance of common stock, net of issuance costs	13,109	31,657
Common stock repurchases, including shares withheld from employee stock awards for payment of taxes	(2,903)	(3,970)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(2,509)	400,257
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	3,331	(51,261)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period	200,289	237,219
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period	203,620	185,958
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	46,531	36,673
Collateralized Mortgage-Backed Securities [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(345,032)	(467,460)
Sales and maturities	221,733	0
Principal repayments	$ 74,338	$ 61,021