Do colleges even consider weighted GPA?

My Gpa isn't so good, in fact, its terrible. Its a 2.5. But then again, I have taken all honors, and I currently have 5 honors classes. So my GPA weighted would be around 3.125, which isnt GREAT, but sounds a lot better (at least to me). So when I apply to college are they going to see the 2.5 of the 3.1?
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