My brake pedal has increased its travel before the brakes start to bite over the past month. The pads look fine. I also have a squeak from the rear drivers side brake on some occasions.

Any ideas what could be causing the poor performance?

 

Brake fluid. You might have to add fluid, there might be air bubbles in your brake lines, or your brake fluid just needs to be bled from use.

 

Replace the fluid. As brake fluid gets old, it wicks water and breaks down. This causes a "squishy" pedal. You should replace the fluid completely every 3 years regardless of mileage.