<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Capstead
Mortgage Corporation Annual Report on Form 10-K for the period ended
December 31, 1996 and is qualified in its entirety by reference to such 
financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                          21,003
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              10,157,338
<CURRENT-LIABILITIES>                        5,568,577
<BONDS>                                      3,861,892
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    266,396
<COMMON>                                           447
<OTHER-SE>                                     460,026
<TOTAL-LIABILITY-AND-EQUITY>                10,157,338
<SALES>                                              0
<TOTAL-REVENUES>                               813,238
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                87,298
<LOSS-PROVISION>                                   400
<INTEREST-EXPENSE>                             598,312
<INCOME-PRETAX>                                127,228
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            127,228
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   127,228
<EPS-PRIMARY>                                     2.31
<EPS-DILUTED>                                     2.06