A Global Positioning System receiver incorporating a method of reducing the effect of common mode oscillator phase noise. Oscillator phase noise in the receiver is a basic limitation on narrowing the carrier tracking loop bandwidth and, therefore, on the achievable carrier-track C/No for a GPS receiver tracking a single satellite signal. However, when receiving several satellite signals, the receiver phase noise is common to all tracking loops and, in principle, can be removed by a common-mode rejection scheme. The phase noise contributed by the satellites is negligible in comparison with the phase noise contributed by the receiver's oscillator; hence, the common-mode rejection is improved by tracking multiple satellite signals.