Wednesday, February 5, 2014 / by Lela Ashkarian
Looking for new credit translates into higher risk for lenders. If your inquiries are related to your mortgage search, that usually doesn’t affect your credit score, because lenders assume that you’re rate-shopping. But opening credit accounts within a short period of time represents some risk, and your credit could take a hit. Inquiries are probably not a huge factor in calculating your ability to repay a loan, but why take a chance?