Form: 10-K

Annual report pursuant to Section 13 and 15(d)

March 25, 1998

FDS ART.5 FOR THE YEAR ENDED 12-31-97

Published on March 25, 1998





5

(Replace this text with the legend)

0000826675
Dynex Capital, Inc.
1000


12-mos
DEC-31-1997
JAN-1-1997
DEC-31-1997
18,329
5,103,431
5,628
0
0
0
0
0
5,378,172
0
3,632,079
0
130,482
451
429,976
5,378,172
0
350,762
0
0
41,399
5,833
244,352
59,178
0
59,178
0
0
0
59,178
1.38
1.37

The Company's balance sheet is unclassified