A packet stream multiplexer may include one or more control loops (e.g., digital phase locked loops) for tracking the source clock frequency associated with a packet stream. A first control loop may slowly drive an error between a received timestamp and an estimated timestamp to zero. A second control loop may more quickly drive a first derivative of the error to zero. The second control loop may include a set of digital filters ordered according to tracking speed. The output of the slowest filter is initially selected for updating the source clock frequency estimate. As time progresses, the faster filters are selected in succession. The estimated source clock frequency is used to restamp packets of the packet stream as they are sent out onto an output channel.