-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 R53KwFoV5BO6MM8aum11smeEGbUzGcOBWOqVIR5QeDJGpPJDebQIyGn3wMwnuC5H
 JPJNqJ0swo/kVlfl7g04/g==

<SEC-DOCUMENT>0001273819-04-000001.txt : 20040109
<SEC-HEADER>0001273819-04-000001.hdr.sgml : 20040109
<ACCEPTANCE-DATETIME>20040109122541
ACCESSION NUMBER:		0001273819-04-000001
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040101
FILED AS OF DATE:		20040109

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BROWN MIKE
		CENTRAL INDEX KEY:			0001273819

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08896
		FILM NUMBER:		04517128

	MAIL ADDRESS:	
		STREET 1:		8401 N CENTRAL EXPRESSWAY
		STREET 2:		STE 800
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75225

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAPSTEAD MORTGAGE CORP
		CENTRAL INDEX KEY:			0000766701
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				752027937
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		8401 NORTH CENTRAL EXPRESSWAY
		STREET 2:		STE 800
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75225
		BUSINESS PHONE:		2148742323

	MAIL ADDRESS:	
		STREET 1:		8401 NORTH CENTRAL EXPRESSWAY
		STREET 2:		STE 800
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75225

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LOMAS MORTGAGE CORP
		DATE OF NAME CHANGE:	19891105
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>edgardoc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-01-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000766701</issuerCik>
        <issuerName>CAPSTEAD MORTGAGE CORP</issuerName>
        <issuerTradingSymbol>CMO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001273819</rptOwnerCik>
            <rptOwnerName>BROWN MIKE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>8401 N. CENTRAL EXPRESSWAY</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 800</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75225</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Vice President &amp; Treasurer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>

        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1416</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>

    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Shares held are restricted stock granted on April 20, 2000 with remaining scheduled vesting on each of April 20, 2004 and 2005.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Mike Brown</signatureName>
        <signatureDate>2004-01-09</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----