1996 Lexus ls400 wanders left and right and the suspension feels loose when braking at low and high speeds but?

it goes straight on the road, took it to a big National Tire Chain and did an oil change and got a free alignment and brake inspection and they told me its a rear wheel bearing. Would this cause all these ailments, the car feels like it has it wants to detach itself from the chassis
Update: BTW, thats the rear that feels this way, front seems fine.
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