If several mortgage quotes are obtained within a two-week period, how will it affect the credit score?

When multiple mortgage quotes are obtained within a two-week period, the effect on the credit score is nuanced. Credit scoring models typically recognize that consumers may shop around for the best mortgage rates. As a result, when multiple inquiries for a mortgage are made in a short time frame—usually 30 days or less—they are generally treated as a single inquiry rather than multiple ones. This aggregation helps to minimize the negative impact on the credit score that can occur from individual inquiries.

While it is true that applying for credit can lead to a small and temporary decrease in one's credit score, these inquiries related to mortgage loans won't significantly harm the score as long as they occur within that designated period. Therefore, the correct answer highlights that these inquiries could impact the score at a later stage, especially if the individual continues to take on debt or if there are other contributing factors affecting credit health. This clarifies the nature of credit scoring, particularly regarding consumer behavior in acquiring mortgages.