Keep in mind it's not really a rate. All points plus cash is at Choice is you buying some of the points at the time of the reservation. It's rarely a good value, because buying points is rarely a good value.
If you ever cancel a points + cash reservation, you don't get any cash back, instead you get the points you bought back.
Ie, there's never a better points plus cash rate or a worse one. There may be an illusion of that, but the cash portion is always the same for the same total points amount. It has nothing to do with the price of the hotel. That's why you can even find some cases where the cash part of points + cash is actually more than the pure cash value of the hotel, because points + cash is nothing more than buying some of the points with the cash (at a poor rate).