How Big of a Hit Are Hard Inquiries in Canada?

Every credit application triggers a hard inquiry.

📉 Impact

• Drops score 5–15 points.
• Multiple inquiries for same loan type = grouped.
• Stays 3 years, affects score ~12 months.

✅ Smart Strategies

• Shop for mortgages/loans within 14–45 days.
• Avoid multiple credit products at once.
• Check your own credit — soft inquiry, no impact.

📌 Takeaway

👉 Hard pulls matter, but recover quickly.