Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 17,122	$ 19,776
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	(243)	(140)
Net discount accretion on U.S. Treasury securities	(120)	(1,221)
Realized losses on mortgage-backed securities	1,298	0
Unrealized (gains) losses on mortgage-backed securities and U.S. Treasury securities	(77,592)	61,895
Realized and unrealized losses (gains) on derivative instruments	91,315	(39,176)
Changes in operating assets and liabilities:
Accrued interest receivable	(8,474)	(663)
Other assets	(469)	(530)
Accrued interest payable	2,543	4,830
Other liabilities	217	244
Due to affiliates	182	(6)
NET CASH PROVIDED BY OPERATING ACTIVITIES	25,779	45,009
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(49,622)	(98,643)
Sales and maturities	168,634	221,733
Proceeds from maturity of U.S. Treasury securities, available-for-sale	25,000	100,000
Net (payments on) proceeds from derivative instruments	(93,402)	8,435
NET CASH USED IN INVESTING ACTIVITIES	(1,526,514)	(39,169)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from repurchase agreements	14,563,906	8,529,398
Principal payments on repurchase agreements	(13,170,808)	(8,523,549)
Cash dividends	(32,679)	(18,564)
Proceeds from issuance of common stock, net of issuance costs	205,424	13,109
Common stock repurchases, including shares withheld from employee stock awards for payment of taxes	(69)	(2,903)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	1,565,774	(2,509)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	65,039	3,331
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period	335,053	200,289
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period	400,092	203,620
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	58,833	46,531
Collateralized Mortgage-Backed Securities [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(1,710,118)	(345,032)
Sales and maturities	168,634	221,733
Principal repayments	$ 132,994	$ 74,338