It finally happened. This week Freddie Mac reported a 30-year fixed-rate mortgage average below 3%. That puts the average for consumers (remember, your rate will vary based on a variety of conditions) at 2.98%. As you would expect, mortgage volume has gone up over the last week. The Mortgage Bankers Association’s data shows total mortgage application volume went up 5.1% week-over-week, with refinances seeing a 12% jump. According to the MBA, refinances are up 107% annually.