Squeak while braking..?

I have a strange problem that is getting progressively worse with my 96gt. While braking, though not everytime or with any pattern, I get a strange and loud metallic squeaking sound. It only happens when I'm almost stopped and not under heavy braking. It's not a consistant squeak while holding the brakes either, it sounds like a certain point somewhere while rotating is causing the squeak. When it happens it's like "Squeak, squeak, squeak.." The sound is always the same pitch and same loudness no matter how hard I'm braking..


I checked the pads, and they're all still pretty thick (though unevenly worn on each corner of the car), and my rotors are grooved like hell. I don't even think my rear brakes work very much, but I can't really tell. I pull the ebrake and I can't get them to slow down the car - just feels like a slight drag. But that could be just the ebrake that doesn't want to work correctly. The rear brakes are never as shiny as the fronts but they are always hot, so I don't know..

What could this sound be and how can I fix it.. It's embarassing stopping at lights and I don't want my stopping to stop working..