South Korea is giving new parents cheaper mortgages to boost fertility rates

The government is offering mortgages at interest rates 1-3% lower than commercial banks to couples who have had a baby in the past 2 years and who together earn $98,200 or less a year. The government will cut the rate by a further 0.2% and extend the deal for 5 years for couples already benefiting from the offer who have a second child. South Korea has the world’s lowest fertility rate and it's population is shrinking as a result.