Does a new mortgage lower your score?

[Asher Anthes]

I just bought my first house in may of this year. When I closed my loan my scores were around 700. The mortgage just appeared on my credit report last month and my scores today were in the 660's - 680's. I figured my scores would have been going up since I have paying everything on time.

Also, do high balances on student loans lower my score? I'm making all my payments on time, but maybe I need to pay down some more of that debt to higher my score?

Thanks guys.