Inside the animation editor in Houdini it looks like this (only translate shown):

However, when I bring this into my game engine, I can see that easing in and out has been added to the animation data. So if I reimport the FBX back into Houdini and look again in the animation editor, it looks like this:

Why has the animation been eased during export? I can't see any settings on the FBX export menu which could explain this.
I can get around the problem by baking the animation before exporting. However, I am doing this for a web-based game engine (Playcanvas) so file size is important. Baking the animation basically triples the size of the resultant file.
I've attached a hip file.
Anyone know why this would be happening?