4 Fed rate hikes could have a big impact on the housing market

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Inflation suddenly looks like it could be making a comeback, and a very loose fiscal policy could amplify that.

Many Wall Street commenters and even some Fed members now think the central bank could raise interest rates more quickly than expected.

That could have a huge impact on the housing market if mortgage rates quickly rise.

It didn’t take long for rate-hike expectations to be jostled further by last week’s “monster” two-year budget bill that Congress passed with its usual gyrations, including a government mini-shutdown, and that Trump signed into law on Friday. The bill increases spending caps by 300 billion over the next two years. It includes an additional 165 billion for the Pentagon and 131 billion for non-defense programs.

The bill comes after the tax cuts slashed expected revenues by 1.5 trillion of the next ten years. So pretty soon this is starting to add up.See the rest of the story at Business InsiderNOW WATCH: What happens to your body when you start exercising regularlySee Also:America's consumer debt keeps skyrocketingHere's who was smart enough to sell stocks before Monday's routRegulators are worried about crypto and they may have good reasonSEE ALSO: How the bond market could have played a role in last week's wild stock swings