Taylor Swift's stalker isn't getting the message -- 2 hours after he was in court over his last arrest for creeping around her home ... he was back on Taylor's block and getting busted again.

This video shows David Crowe smoking a cigarette Wednesday around 2 PM outside a McDonald's just 2 blocks from her NYC townhouse. However, witnesses say he eventually made his way back to Taylor's place ... and someone in the neighborhood sounded the alarm, calling 911 to report him.

Police arrived and arrested Crowe on a criminal contempt charge ... due to the fact an order of protection had just been issued during his arraignment Wednesday morning on 2 counts of harassment and 2 counts of stalking.

This is now the third time Crowe's been arrested at or near Taylor's home -- the first time was Saturday, followed by a Monday evening bust.

Law enforcement sources tell us that during today's bust, Crowe told cops he was from Seattle -- which is true -- and he was going to take a flight home ... but police found no evidence of that trip.

What's more alarming about this arrest is we know Taylor is back in NYC -- she was out on the town Tuesday night with Brittany Mahomes and Cara Delevingne. It's unclear if Taylor was actually inside when Crowe was taken into custody today, but she had been out of town during the previous arrests.