Silicon spray is very common. You should be able to find it in any auto parts or hardware store. Call around first. Silicon is not petroleum based so it is ideal to use on your hatch seals also. It's best for the rudder because it leaves no sticky residue that can pick up sand or grit.
Spray the center bolt and (with the boat upside down) the outer rotating lip liberally. You can even spray the rudder lines. Everything should move freely but not feel sloppy or loose.
As long as you have full up-down control, and there is no slack in the left - right controls when deployed, you shouldn't have to adjust any lines.
Learn how to wiggle the rudder (left and right) when lifting. It naturally feels heavy, but good wiggling technique helps swing it right up.