A method for generating a temperature-compensated timing signal that includes counting, within an update interval, a first number of oscillations of a first micro-electromechanical (MEMS) resonator, a second number of oscillations of a second MEMS resonator and a third number of oscillations of a digitally controlled oscillator (DCO), computing a target DCO count based on the first number and second number of oscillations, computing a loop error signal based on the target DCO count and the third number of oscillations, and modifying an output frequency of a temperature-dependent (DCO) timing signal based on the loop error signal. The duration of the update interval may also be modified based on temperature conditions, and the update interval may also be interrupted and the output frequency immediately adjusted, if a significant temperature change is detected. Thus, dynamic and precise temperature compensation is achieved that accommodates constant, slowly changing, and rapidly changing temperature conditions.