To a first approximation, yes. To a second approximation, "&T" is a shared borrow and "&mut T" is an exclusive borrow. The key point to bring up in the rephrasing here is that "&T" doesn't imply you can't mutate something. Why? Because interior mutability (for example, RefCell and Cell, but always underpinned by UnsafeCell) permits mutation through "&T". RefCell, for example, can be thought of as "borrow checker, but at runtime."
In the days of yore, an event called the "mutpocalypse" occurred where by (pre Rust 1.0) there was a huge discussion about potentially changing "&mut T" to "&only T" or "&uniq T" because the more precise model was one of sharing vs exclusivity, rather than immutability vs mutability. The immutability vs mutability model is still useful, it's just wrong in more circumstances. However, it does have the benefit of (IMO) being more accessible by describing borrows in terms of the most common effect: to mutate or not. I don't know which choice would have been the right one, but I am at peace with it.
"Rust Atomics and Locks" by Mara Bos has a great discussion of these points toward the beginning of her book, and specifically grounds the choice of which terminology to use in concrete and practical terms, which I really appreciated.
In the days of yore, an event called the "mutpocalypse" occurred where by (pre Rust 1.0) there was a huge discussion about potentially changing "&mut T" to "&only T" or "&uniq T" because the more precise model was one of sharing vs exclusivity, rather than immutability vs mutability. The immutability vs mutability model is still useful, it's just wrong in more circumstances. However, it does have the benefit of (IMO) being more accessible by describing borrows in terms of the most common effect: to mutate or not. I don't know which choice would have been the right one, but I am at peace with it.
"Rust Atomics and Locks" by Mara Bos has a great discussion of these points toward the beginning of her book, and specifically grounds the choice of which terminology to use in concrete and practical terms, which I really appreciated.