<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Capstead
Mortage Corporation's Quarterly Report on form 10-Q for the quarter ended June
30, 1999 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               JUN-30-1999
<CASH>                                          19,289
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               9,338,401
<CURRENT-LIABILITIES>                        5,063,739
<BONDS>                                      3,636,020
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    194,462
<COMMON>                                           583
<OTHER-SE>                                     443,597
<TOTAL-LIABILITY-AND-EQUITY>                 9,338,401
<SALES>                                              0
<TOTAL-REVENUES>                               274,644
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 4,381
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             239,673
<INCOME-PRETAX>                                 30,590
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             30,590
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    30,590
<EPS-BASIC>                                       0.32
<EPS-DILUTED>                                     0.32