CONSENTS OF EXPERTS AND COUNSEL
Published on August 1, 1997
Exhibit 23.1
Consent of Independent Auditors
The Board of Directors
Dynex Capital, Inc.
We consent to the use of our reports incorporated by reference in the
registration statement on Form S-8 of Dynex Capital, Inc. and to the reference
to our firm under the heading "Experts" in the Statement of Information for
Participants.
KPMG PEAT MARWICK LLP
Richmond, Virginia
July 28, 1997