Here come existing home sales ...

The latest data on existing home sales will be released at the top of the hour.

Economists estimate that existing home sales fell 1.6% to an annual rate of 5.50 million.

This would follow a 2% rise in July to an annual rate of 5.59 million.

In a preview to clients, Bank of America Merrill Lynch economists wrote: "Mortgage purchase applications have slipped lower over the prior two months while pending home sales have softened. Moreover, the data are due for a reversal after the strong performance over the prior several months."

We'll be back with the latest once the data cross.