Your blended interest rate is the true interest rate that you pay for all of your liabilities that you have. To understand what the true interest rate is put all of your liabilities including Mortgages, Credit card debt, Car loans etc into the table below. This is the amount of interest you pay each month for all of your debts. If the cash out refinance rate you are offered is lower than the blended rate it may benefit you to refinance and pay off your debt.