VLGaffEsq wrote:Inquiries, generally, are not a good thing to have on your credit report, especially if you are trying to obtain a loan or another credit card. Plus, inquiries will usually lower your FICO scores (although new credit or CLI tend to offset the loss of a few points the inquiry may cause since your overall utilization of available credit will be lowered, thereby causing an increase in your FICO scores). Lenders do not like to see a lot of recent requests for credit because you then look like someone who may be a higher risk to them, giving them a reason to deny giving you additional credit. Since you have recently added 4 to 5 inquiries (so long as you got some credit to make home inprovements) I would cool it for now, and let your wife obtain addional credit as needed, AFTER you close on your new house.
It would be a good time to check yourself into the Sleigh Center and join the pledge NOT TO APP for the next 6 to 12 mos. Make sure you read the Sleigh Center thread thoroughly. 
In all seriousness- take it easy on the apps now. In a year or two- IF THE INTEREST RATES ARE STILL LOW ENOUGH you MIGHT wish to look into refi the house- but ONLY if it makes sense interest and payment wise, only if your credit is good in the next two to three years, and only if they will add your name to the loan w/ no negative reprocussions.
Reason I say this is because what you and your wife have done is exactly what DH and I did three years ago for a Heloc cuz my scores were not high enough- and I made the payment all those three years and got no credit for it because it was in his name only.
Again- this method would work ONLY if your credit is almost excellent by this time, your scores reflect the excellence, DW's credit is also almost excellent, you have to pay no points, and the interest rates are low enough to warrant it.
Now repeat the following mantra- I WILL NOT APP FOR THE NEXT 6 MOS.