SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C.  20549

                                  FORM 8-K

                               CURRENT REPORT

                      Pursuant to Section 13 or 15(d) of
                     the Securities Exchange Act of 1934

              Date of Report (Date of earliest event reported):
                                April 26, 1999


                   AMERICA FIRST MORTGAGE INVESTMENTS, INC.
             ----------------------------------------------------
            (Exact name of registrant as specified in its charter)



                 Maryland    	   					              1-13391
            ------------------               ----------------------
           (State of Formation)      					  (Commission File Number)


                                 13-3974868
                     ----------------------------------
                    (IRS Employer Identification Number)



            399 Park Avenue
           New York, New York 			              		                     10022
- ----------------------------------------                             --------
(Address of principal executive offices)	                        			(Zip Code)


                               (212) 935-8760
              --------------------------------------------------
             (Registrants' telephone number, including area code)


                               Not applicable
         -----------------------------------------------------------
        (Former name or former address, if changed since last report)
































Item 5.  Other Matters.

On April 26, 1999, America First Mortgage Investments, Inc. (the "Registrant")
acquired three FNMA mortgage-backed certificates with an aggregate remaining
principal balance of $31.2 million (FNMA Certificates) from affiliates of
Countrywide Securities Corp.  The FNMA Certificates bear interest at rates
ranging from 7.06% to 7.27% per annum.  The total purchase price paid for the
FNMA Certificates, including accrued interest, was approximately $32.2
million.  On April 26, 1999, the Registrant also acquired two private label
floating rate securities with an aggregate remaining principal balance of
approximately $21.6 million from Countrywide Home Loans and Residential
Funding Mortgage Securities, Inc.  The private label floating rate securities
bear interest at rates ranging from 5.71% to 5.84% per annum.  The total
purchase price paid for the private label floating rate securities, including
accrued interest, was approximately $21.7 million. The acquisitions were
financed in part with the proceeds of various LIBOR-based repurchase
agreements with Bear Stearns and PaineWebber, Inc., aggregating $52.5 million
and the remainder from cash reserves of the Registrant.  There is no
relationship between any of Countrywide Securities Corp., Countrywide Home
Loans,  Residential Funding Mortgage Securities, Inc., Bear Stearns,
PaineWebber, Inc., or their respective affiliates, on one hand, and the
Registrant or any of its affiliates, directors or officers or any associate of
any of its directors or officers on the other hand.


                                  SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                            	AMERICA FIRST MORTGAGE INVESTMENTS, INC.,



                            	By /s/ Stewart Zimmerman
                                ----------------------------------------------
                            	Stewart Zimmerman, President and Chief Executive
                            	Officer

     Dated: June 30, 1999



































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