Sounds like your steering cables may be loose. There are take-up adjustment eyes on the radial quadrant. Adjust both sides evenly. Edison.com has a lot of useful info on maintenance of a cable steering systems applicable to Meriman systems on the old Hunters.
Following on Nelsonhow's suggestion, don't know your prior experience with boat ownership. However just "getting down into it" to take a critical look/listen/feel will frequently offer up the cause and the remedy to many issues.
That certainly would apply to very loose steering cables .... if that is the cause of your binnacle noise. Reaching the adjustment bolts at the quadrant might be difficult. Look for alternative access if that is the case. Proper tension should be somewhat taught, but not rigidly so. If in fact the cables are very lose, that is an indication of lack of attention by the prior owner. Look for frayed cable strands (replace if found) and overall condition of the quadrant, its attachment to the rudder shaft, the rudder shaft bearing and also the sheave condition below the pedestal. If the cable ends are done with cable clamps rather than permanent pressed fittings, check that the clamp nuts are completely torqued tight. (I've double clamped mine for added peace of mind.) Wipe the cable well with a rag coated with motor oil. Also the chain itself should get a light coating of lube. Just like one would do for a bicycle.