If by "rubber band sound", I might assume you mean that is something like the "pppbbbffttt-pbbbbfffttt" frequency sound one might hear when you snap a rubber band.
In my humble option, that does sound like a wheel rubbing and I would absolutely recommend you investigate that possibility. Fortunately, this is super easy to do. Just get a spotter and gently maneuver the vehicle back-and-forth in forward-and-reverse at low speed while turning the vehicle at full lock - like when backing out of or pulling into a parking space. If you have a wheel/tire rubbing, this is super easy to diagnose this way. And this may be why you are only experiencing your concern at low speed.
I'd bet a dollar to a donut you now have a tire rubbing.
Even if this hasn't happened before, potential causes are:
- recent wheel/tire rotation (even the same size tires vary in size)
- worn out shock / strut on one side but not the other
- extremely low tire pressure in one front corner and the TPMS light is non-functional or being disregarded
GOOD LUCK!