<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 
JUNE 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<CASH>                                          11,884
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              10,583,777
<CURRENT-LIABILITIES>                        6,206,283
<BONDS>                                      3,531,285
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    231,831
<COMMON>                                           510
<OTHER-SE>                                     613,868
<TOTAL-LIABILITY-AND-EQUITY>                10,583,777
<SALES>                                              0
<TOTAL-REVENUES>                               421,543
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                50,936
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             293,548
<INCOME-PRETAX>                                 77,059
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             77,059
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    77,059
<EPS-PRIMARY>                                     1.30
<EPS-DILUTED>                                     1.17