Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 14,797	$ 13,779
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	101	652
Discount accretion on U.S. Treasury Bills	(2,405)	0
Unrealized losses on mortgage-backed securities and U.S. Treasury securities	87,865	15,644
Realized and unrealized gains on derivative instruments	(41,972)	(15,244)
Changes in operating assets and liabilities:
Accrued interest receivable	(4,037)	(3,747)
Other assets	(278)	(339)
Accrued interest payable	9,658	2,071
Other liabilities	498	410
Due to affiliates	73	110
NET CASH PROVIDED BY OPERATING ACTIVITIES	64,300	13,336
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(196,025)	0
Proceeds from maturity of U.S. Treasury securities, available-for-sale	200,000	0
Net payments on derivative instruments	(4,090)	(11,484)
NET CASH USED IN INVESTING ACTIVITIES	(719,723)	(861,917)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from repurchase agreements	18,417,873	17,626,375
Principal payments on repurchase agreements	(17,777,818)	(16,803,103)
Cash dividends	(38,793)	(37,307)
Proceeds from issuance of common stock, net of issuance costs	113,807	79,012
Common stock repurchases, including shares withheld from employee stock awards for payment of taxes	(2,924)	(4,278)
NET CASH PROVIDED BY FINANCING ACTIVITIES	712,145	860,699
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	56,722	12,118
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period	200,289	237,219
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period	257,011	249,337
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	95,464	88,817
Collateralized Mortgage-Backed Securities [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(1,113,948)	(988,824)
Sales and maturities	221,733	0
Principal repayments	$ 172,607	$ 138,391