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Transactions with Affiliates - Management Fees (Details) - USD ($)
12 Months Ended
Sep. 12, 2016
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Management Fee Revenue Abstract        
Management fees   $ 24,469,000 $ 23,585,000 $ 22,746,000
PMT        
Management Fee Revenue Abstract        
Management fees   24,465,000 22,584,000 20,657,000
PMT | Management Agreement        
Transactions with Affiliates        
Percentage of change in net income due to quarterly adjustments 8.00%      
Related party transaction, automatic renewal period 18 months      
Management Fee Revenue Abstract        
Base management fee   23,033,000 22,280,000 20,657,000
Performance incentive   1,432,000 304,000  
Management fees   $ 24,465,000 $ 22,584,000 $ 20,657,000
PMT | Management Agreement | Maximum        
Transactions with Affiliates        
Percentage of performance incentive fee payable by issuance of common shares 50.00%      
PMT | Management Agreement | Minimum        
Transactions with Affiliates        
High watermark $ 0      
PMT | Shareholders Equity Up To 2 Billion Dollars | Maximum        
Transactions with Affiliates        
Base management fee annual rate (as a percent) 1.50%      
Base management fee shareholders' equity limit $ 2,000,000,000      
PMT | Shareholders Equity In Excess Of 2 Billion Dollars And Upto 5 Billion Dollars        
Transactions with Affiliates        
Base management fee annual rate (as a percent) 1.375%      
PMT | Shareholders Equity In Excess Of 2 Billion Dollars And Upto 5 Billion Dollars | Maximum        
Transactions with Affiliates        
Base management fee shareholders' equity limit $ 5,000,000,000      
PMT | Shareholders Equity In Excess Of 2 Billion Dollars And Upto 5 Billion Dollars | Minimum        
Transactions with Affiliates        
Base management fee shareholders' equity limit $ 2,000,000,000      
PMT | Shareholders Equity In Excess Of 5 Billion Dollars        
Transactions with Affiliates        
Base management fee annual rate (as a percent) 1.25%      
PMT | Shareholders Equity In Excess Of 5 Billion Dollars | Minimum        
Transactions with Affiliates        
Base management fee shareholders' equity limit $ 5,000,000,000      
PMT | Return on Shareholders Equity 8 Percent        
Transactions with Affiliates        
Percentage of net income for calculation of performance incentive fees 10.00%      
PMT | Return on Shareholders Equity 8 Percent | Maximum        
Transactions with Affiliates        
Percentage of return on affiliate's equity 12.00%      
PMT | Return on Shareholders Equity 8 Percent | Minimum        
Transactions with Affiliates        
Percentage of return on affiliate's equity 8.00%      
PMT | Return on Shareholders Equity 12 Percent        
Transactions with Affiliates        
Percentage of net income for calculation of performance incentive fees 15.00%      
Percentage of return on affiliate's equity 12.00%      
PMT | Return on Shareholders Equity 12 Percent | Maximum        
Transactions with Affiliates        
Percentage of return on affiliate's equity 16.00%      
PMT | Return on Shareholders Equity in Excess of 16 Percent        
Transactions with Affiliates        
Percentage of net income for calculation of performance incentive fees 20.00%      
Percentage of return on affiliate's equity 16.00%