1998 Subaru Legacy - Bouncing Steering Wheel

I just purcahsed a 1998 Subaru Legacy with 93,000 miles on it. It is AWD with the 2.5 engine and cruise control.
When you start the car off at slow speeds, there is a slight rocking in the
car. You can feel the left-to-right bump in the steering wheel. The rocking is not as bad at higher speeds but does become more severe when braking from higher speeds (i.e. an exit ramp off the freeway).
All four tires have been recently balanced and rotated. We do not feel any knots on the tires and do not see any signs of tred separation.
A few people say the rotars could be causing the problem. Is this possible?
Thank You - KSC snipped-for-privacy@charter.net (leave out number one if responding e-mail)
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Charter wrote:

possibly a 'frozen' brake
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Carl 1 Lucky Texan wrote:

I didn't mean to send that but hit the wrong button! I was gonna guess frozen brake caliper but I doubt the symptoms would be as severe as you describe.
Carl
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Not exactly sure what you're feeling, but might also check your CV boots, the little rubber, accordian-like boots that are near each end of your drive axles. Ripped / torn boots that have lost much grease from the CV joints and allowed mechanical deterioration of the joint can cause vibration in the steering, especially when cornering and under acceleration load.
Bad suspension components?
~Brian

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I could be way off, but a warped rotor would certainly describe the sensations you have when braking.
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