<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Capstead
Mortgage Corporation Quarterly Report on Form 10-Q for the period ended
September 30, 1994 and is qualified in its entirety by reference to such 
financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLAR
       
                                        
<PERIOD-TYPE>                                    9-MOS
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-START>                             JAN-01-1994
<PERIOD-END>                               SEP-30-1994
<EXCHANGE-RATE>                                      1
<CASH>                                          12,084
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               8,967,722
<CURRENT-LIABILITIES>                        3,608,142
<BONDS>                                      4,754,979
<COMMON>                                           153
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    332,641
<OTHER-SE>                                     271,807
<TOTAL-LIABILITY-AND-EQUITY>                   604,601
<SALES>                                              0
<TOTAL-REVENUES>                               435,716
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                31,285
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             338,665
<INCOME-PRETAX>                                 65,766
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             65,766
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    65,766
<EPS-PRIMARY>                                     2.40
<EPS-DILUTED>                                     2.36