Bank Lowers Consumer Rates

NEW YORK — Chemical Bank lowered its lending charges on several key consumer loans today in what may be the first break for consumers since banks began lowering deposit rates last year.

Chemical, the nation’s sixth largest bank, lowered its lending rates on fixed-rate home equity loans from 14.9% to 13.9% plus three points; for new auto-marine loans of more than $6,000 from 14.9% to 14.5% and on unsecured personal loans from 17.25% to 16.5%, effective immediately.