<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Capstead
Mortgage Corporation's Quarterly Report on Form 10-Q for the quarter ended
September 30, 1996 and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                          19,788
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               9,992,257
<CURRENT-LIABILITIES>                        5,222,950
<BONDS>                                      4,090,382
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    298,376
<COMMON>                                           410
<OTHER-SE>                                     380,139
<TOTAL-LIABILITY-AND-EQUITY>                 9,992,257
<SALES>                                              0
<TOTAL-REVENUES>                               604,855
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                62,365
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             451,061
<INCOME-PRETAX>                                 91,429
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             91,429
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    91,429
<EPS-PRIMARY>                                     1.67
<EPS-DILUTED>                                     1.50