-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 JXKhJLna6IdQMQU4dNeTY2Q5sONuVh/MRB2edi+2fJR2WNMaMFCpDs68Zy07q3bi
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<SEC-DOCUMENT>0001225385-10-000020.txt : 20100514
<SEC-HEADER>0001225385-10-000020.hdr.sgml : 20100514
<ACCEPTANCE-DATETIME>20100514172457
ACCESSION NUMBER:		0001225385-10-000020
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100514
FILED AS OF DATE:		20100514
DATE AS OF CHANGE:		20100514

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			IGDALOFF BARRY
		CENTRAL INDEX KEY:			0001235668

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09819
		FILM NUMBER:		10834884

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DYNEX CAPITAL INC
		CENTRAL INDEX KEY:			0000826675
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				521549373
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			0709

	BUSINESS ADDRESS:	
		STREET 1:		4991 LAKE BROOK DRIVE
		STREET 2:		STE 100
		CITY:			GLEN ALLEN
		STATE:			VA
		ZIP:			23060
		BUSINESS PHONE:		8042175830

	MAIL ADDRESS:	
		STREET 1:		4991 LAKE BROOK DRIVE
		STREET 2:		STE 100
		CITY:			GLEN ALLEN
		STATE:			VA
		ZIP:			23060

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RESOURCE MORTGAGE CAPITAL INC/VA
		DATE OF NAME CHANGE:	19930722

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RESOURCE MORTGAGE INVESTMENT CORP
		DATE OF NAME CHANGE:	19930505

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RAC MORTGAGE INVESTMENT CORP /VA/
		DATE OF NAME CHANGE:	19930505
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-05-14</periodOfReport>

    <issuer>
        <issuerCik>0000826675</issuerCik>
        <issuerName>DYNEX CAPITAL INC</issuerName>
        <issuerTradingSymbol>DX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001235668</rptOwnerCik>
            <rptOwnerName>IGDALOFF BARRY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O DYNEX CAPITAL, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>4991 LAKE BROOK DRIVE, SUITE 100</rptOwnerStreet2>
            <rptOwnerCity>GLEN ALLEN</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>23060</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2010-05-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>66052</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>77663</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Rose Capital</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Restricted stock award.  The shares vest on May 13, 2011.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Stephen J. Benedetti, as attorney-in-fact for Barry Igdaloff</signatureName>
        <signatureDate>2010-05-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>poaigdaloff.txt
<DESCRIPTION>IGDALOFF POWER OF ATTORNEY
<TEXT>
SECTION 16

POWER OF ATTORNEY

	I, Barry Igdaloff, do hereby constitute and
appoint Stephen J. Benedetti, Alison G. Griffin,
Shannon V. Patterson and Susan S. Ancarrow, my true
and lawful attorneys-in-fact, any of whom acting
singly is hereby authorized, for me and in my name
and on my behalf as a director, officer and/or
shareholder of Dynex Capital, Inc., to (i) prepare,
execute in my name and on my behalf, and submit to
the U.S. Securities and Exchange Commission (the
"SEC") a Form ID, including any necessary amendments
thereto, and any other documents necessary or
appropriate to obtain codes and passwords enabling me
to make electronic filings with the SEC of reports
required by Section 16(a) of the Securities Exchange
Act of 1934 or any rule or regulation of the SEC in
respect thereof; and (ii) prepare, execute and file
any and all forms, instruments or documents,
including any necessary amendments thereto, as such
attorneys or attorney deems necessary or advisable to
enable me to comply with Section 16 of the Securities
Exchange Act of 1934 or any rule or regulation of the
SEC in respect thereof (collectively, "Section 16").

	I do hereby ratify and confirm all acts my said
attorney shall do or cause to be done by virtue
hereof.  I acknowledge that the foregoing attorneys-
in-fact, serving in such capacity at my request, are
not assuming, nor is Dynex Capital, Inc. assuming,
any of my responsibilities to comply with Section 16.

	This power of attorney shall remain in full
force and effect until it is revoked by the
undersigned in a signed writing delivered to each
such attorney-in-fact or the undersigned is no longer
required to comply with Section 16, whichever occurs
first.


	WITNESS the execution hereof this 14th day of
May, 2010.


		/s/ Barry Igdaloff
		Barry Igdaloff

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
